Groupon is looking for a buyer

Groupon is looking for a buyer

Technology News

Groupon is looking for a buyer


Groupon is looking for a buyer

Groupon representatives are aggressively looking to create interest among potential suitors, sources say.

It's unclear what's behind the push to sell, though it's fair to assume that its meandering share price hasn't inspired investors.

In 2011, Groupon IPOed at $16B; today it's worth just $2.4B.

As per the distribution, officials and agents of the Chicago-based organization have as of late ventured up endeavors to bait in conceivable purchasers, yet it is vague whether that undertaking has been fruitful.

Alibaba, which purchased 33 miliion shares (almost 6 percent of the organization) in 2016, has been accounted for as a potential suitor, and in addition IAC, whose CEO Joey Levin, is a Groupon board part.

In May, Groupon announced superior to expected first quarter income on bring down year-over-year income. At the time, CEO Rich Williams told "Distraught Money's" Jim Cramer that Groupon was on "somewhat of a tear on the organization side," refering to Major League Baseball ticket deals, Grubhub and publicizing that featured performer/entertainer Tiffany Haddish.

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