- General
- July 9, 2018
- 4 minutes read
E-commerce company Groupon reportedly mulling for an acquisition from Several companies
Groupon CEO Rich Williams image credit : Groupon E-commerce, daily deals and digital vouchers company Groupon notable for being the…
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| Groupon CEO Rich Williams |
image credit : Groupon
E-commerce, daily deals and digital vouchers company Groupon notable for being the major player in the social commerce and group buying space is now reported to be looking for a buyer after several years of existence which has seen the company which reported revenues of $2.84 Billion representing a decrease in year-on-year growth for the Chicago based company once valued at $16 Billion on the stock market and is also notable for turning down a $6 Billion acquisition offer from Google in 2010.
Groupon now currently stands at a market capitalization of just over $2.4 Billion with the stock down 75% from its peak in 2011 after the company experienced several hassles relating to decreasing revenues and a lack of net profitability concerning its business operations.
Groupon which was founded 2008 went public November 2011 and reached its all time high making Billionaires of its founders by names of Andrew Mason, Brad Keywell and Eric Lefkofsky with a huge valuation on the stock market but later saw its share price which opened at $28 go down to a current value of just over $4.
Groupon was notably the fastest startup of its time to head to a $1 Billion valuation after it raised a huge $135 million Series C round led by major tech investor DST Global just 2 years after its start.
Its founding CEO Andrew Mason was ousted from his position after 5 years at the company and was replaced by co-founder and serial entrepreneur Eric Lefkofsky before the CEO position was handed to Rich Williams two years later who has headed the company since then with a stated mission of evolving the company into “a daily habit” in customers lives.
Groupon currently counts Chinese e-commerce giant Alibaba as a major shareholder along with other institutional investors which suggests the company as a potential acquirer along with several other major internet companies who might see Groupon’s operations and customer base as a good addition to its suite.
