Groupon's October revenue increased by 22% to US$176M from September as all of Groupon's core categories showed double-digit growth
December 5, 2011
– Groupon Inc.’s revenue during October 2011 increased by 22% to US$176 million, from $144 million in September, Internet Retailer reported on Dec. 2.
David Sinksy, a product manager at company researcher Yipit Inc., reports that, during October, all of Groupon’s core categories—defined as Groupon daily local deals, Groupon Goods flash sale deals, Groupon Now limited-time deals, Groupon Live online ticket deals and Groupon Getaways travel offering—posted double-digit growth.
Groupon Getaways, which was originally launched in June, showed the biggest increase in revenue. Revenue from the Groupon Getaways program increased by 154% to $22.1 million compared to the $8.7 million that it generated in September.
Groupon Goods’ total sales went up to $5.5 million, an increase of 175% from the $2 million generated in September.
Groupon Now, which is aimed towards mobile device users, produced $1.2 million of revenue during October, an increase of 24.5% compared to the revenue generated during September.
12.6% of Groupon’s North American revenue is generated via Groupon’s travel deals.
Andrew Mason, the CEO of Groupon, reported that Groupon sold over 650,000 daily deals via its holiday deals program, Grouponicus, during the 2011 Thanksgiving holiday weekend, an increase of more than 500% in comparison to the same weekend last year. During the 2011 Thanksgiving Holiday weekend, Groupon doubled the number of markets in which it offers its daily deals and added new programs, including those that featured travel deals and discounts for big-ticket items.
At the end of trading on Dec. 2, Groupon’s stock prices dropped nearly 3% in comparison to its IPO price of $20 per share.
The primary source of this article is Internet Retailer, Chicago, Illinois, on Dec. 2, 2011.