Groupon revenues up 7pc to US$608.7m, appoints Lefkofsky CEO

8 Aug 2013

Daily deals site Groupon has reported a 7pc increase in second-quarter revenues to US$608.7m and has appointed Eric Lefkofsky as its new CEO.

Profits were down, however, from US$433.2m last year to US$384.7m in the second quarter.

Gross billings, which reflects the value of transactions via Groupon between consumers and merchants, grew 10pc to US$1.4bn.

Groupon also announced today that its board of directors has appointed Eric Lefkofsky as CEO, and Ted Leonsis as chairman of the board.

“We significantly exceeded our operating income expectations, and delivered our strongest quarter ever in North America, due in part to accelerated billings growth of 30pc,” said Lefkofsky.  

“I’m pleased with the progress we’ve made in such a short time. We continue to gain traction in mobile, with nearly 50pc of our North American transactions coming from mobile in June. To date, more than 50m people have downloaded Groupon apps worldwide.”

Ireland got some good news from Groupon in recent months. The company is to establish an international marketing HQ in Dublin and is recruiting at least 30 people to work at the operation, which will be located near St Stephens Green in Dublin’s city centre.

Groupon image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years