Following the report that Groupon Inc (NASDAQ:GRPN) has settled to purchase e-commerce firm Ticket Monster Inc. its share price boosted that day. As the device trends is changing in the market and more consumers are shifting towards handset device, so companies has also adopted such strategy that will facilitate customers through these device.
The Groupon latest attempt is in line with these efforts, so it is increasing its latest service through mobile devices by replacing its daily deal e-mailed on daily basis.
The South Korean e-commerce firm is acquire for $260 million in stock and cash, by the daily coupon firm, which has declared that its sale increased 4.7% to $595.1 million in the Q3, and reported a net loss of $2.58 million for the same period.
The Chicago-based firm has completed its first quarter under the leadership of Eric Lefkofsky, who is Chief Executive Officer of the company. For the recently released quarter the company revenue fall short of analysts’ average prediction for $615.7 million, while the company loss was decreased as compare to the estimate $14.3 million, estimated by Bloomberg analyst. The new CEO of the company is looking forward to revive the firm after it lost over 80% of its value in its initial year following its public appearance in November 2011.
According to the company statement, the South Korean company has millions of clients with a wide variety of product, travel and local offers as well as has over $800 million of billings on yearly basis.
Due change in trends the company has launched a redesigned website along with new mobile apps. According to the new website the company has provide a modified homepage with various collections of deals that could attract many clients, so they can purchase items according to their interests.
The company also ventures in various other fields, as it in July unveiled an online restaurant-booking service called Groupon Reserve that provides discounted meal. While the latest acquisition, will drag the firm into the second-biggest market following the U.S. Groupon Inc (NASDAQ:GRPN) shares increased 6.43% to $10.11 in last trading session.