Welcome to our dedicated page for Groupon news (Ticker: GRPN), a resource for investors and traders seeking the latest updates and insights on Groupon stock.
Groupon, Inc. (NASDAQ: GRPN) is a global marketplace that connects consumers to a wide variety of local businesses, travel destinations, consumer products, and live events at discounted prices. The company acts as a middleman between merchants and consumers, offering daily deals via its online platform. Groupon's operations are divided into two main segments: North America and International, with the majority of its revenue coming from North America. The company generates income by taking commissions from transactions where it sells goods or services on behalf of third-party merchants and through digital coupons accessed via its website and mobile app.
Groupon recently announced a significant $80 million fully backstopped rights offering, which is expected to commence soon. This offering allows shareholders to purchase new shares at a set price, with Pale Fire Capital SICAV a.s. fully committing to backstop the offering. The proceeds are intended for general corporate purposes, including debt repayment.
Groupon provides merchants with advertising options and tools to help grow and manage their businesses. The company's marketplace offers services and experiences that aim to enhance everyday life for its consumers. Culturally, Groupon values self-awareness, candor, and community involvement, viewing these principles as fundamental to its growth. Significant recent achievements include the stabilization of business revenues and positive Adjusted EBITDA for four consecutive quarters under the leadership of newly appointed permanent CEO Dusan Senkypl.
For investors, Groupon has shown strong financial performance in North America, particularly in local and travel categories. The company holds cash positions of approximately $141 million and expects continued revenue growth and positive free cash flow in 2024. Furthermore, the company remains committed to its mission of becoming the ultimate destination for local experiences and services.
Groupon (NASDAQ: GRPN) announced it will release its first quarter 2023 financial results on May 10, 2023, after market close. The company will hold a conference call at 5:00 PM ET to discuss these results. A live webcast of the call will be available on investor.groupon.com, with a replay accessible afterwards. Groupon positions itself as a trusted local marketplace offering services and experiences that enhance consumer life.
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