Groupon appoints new high tube, mobile business increases

Beijing time August 8, according to foreign media reports, Groupon announced in Wednesday to appoint the company co-founder Eric Levkovsky Eric Lefkofsky chief executive. Lefkofsky and Teide Leoncis (Ted leonsis) have been the joint interim chief executive of the company since Andrew Mason, the former chief executive, was Mason this February. Groupon also appointed Leoncis as chairman of the company's board of directors.

Groupon's share price rose 1.69 in Wednesday after trading, up 19.38% to $10.41. Groupon, headquartered in Chicago, announced the appointment of Lefkofsky as chief executive of the company in its second-quarter earnings. Groupon's second-quarter earnings showed a 7.1% increase in the company's revenue to $608.7 million trillion, with a net loss of $7.57 million trillion and a diluted loss of $0.01 per share.

Groupon, which lost 87% per cent in market capitalisation after November 2011 's IPO, began to soar after Lefkofsky and Leoncis became joint interim chief executives earlier this year. Under the two-person leadership, Groupon seeks growth in new areas such as smartphones and mobile deals for Tablet PCs. Lefkofsky is also Groupon's largest shareholder, holding a 17% stake in the company.

"Groupon will of course choose the co-founder of the company as CEO," said Tom Forte, an analyst at investment firm Telsey Advisory Group, Ford. Lefkofsky is familiar with the company's business. ”

According to Bloomberg statistics, market analysts had previously expected Groupon to lose $0.03 a share in the second quarter, with a revenue of $606.1 million. Groupon's net profit in the second quarter of last year was $28.4 million trillion, with $0.04 trillion in earnings per share and 568.3 million dollars in revenue.

Mobile Services Boost

According to Groupon, nearly 50% of North America's turnover in June this year came from mobile devices, a much higher proportion than 30% a year earlier. Currently, more than 50 million users worldwide have downloaded Groupon mobile apps.

As an indicator of future sales, Groupon's second-quarter gross-bill revenue grew 9.9% per cent year-on-year, to $1.41 billion trillion. Groupon expects the company's third-quarter revenue to be 585 million to $635 million trillion. Market analysts are now on average predicting Groupon's third-quarter revenue is $621.5 million trillion.

The company's share price began to rise faster this June after Deutsche Bank raised its Groupon stock rating and Target share price. Deutsche Bank said it had brought new consumers to Groupon as more smartphone users began using Groupon mobile apps. Among E-commerce companies tracked by Deutsche Bank, Groupon is surprisingly ranked first in mobile penetration. ”

Groupon's international revenue fell in the second quarter. Business revenues in Europe, the Middle East and Africa fell 24% Year-on-year, while the rest of the region fell 26% from a year earlier. "The company's North American business continues to grow strongly," said Jason Jason Charde, Groupon's chief financial officer. Now we are turning our attention to the rest of the world, because we will focus on the growth of these markets and the opportunities for future development. ”

Groupon last month launched a meal reservation service that competes with OpenTable and other innovative companies ' existing services. Groupon now has a meal reservation service in 10 cities such as New York, Los Angeles, San Francisco and Washington, where it will expand into other U.S. markets and overseas markets by the end of the year.

Lefkofsky invested 1 million of dollars in the point, the company's predecessor, Groupon. In the 2008, Lefkofsky had advised Mason to focus on the development of E-commerce business.