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Summary:

Andrew Mason has said that “Life is too short to be a boring company” — and his company Groupon continues to deliver the goods. The daily deals giant has filed an updated S-1 as part of its IPO preparation, and the document is not short on surprises.

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Groupon filed an updated S-1 document with the Securities and Exchange Commission on Wednesday, as part of its preparation for a planned initial public offering (IPO.)

While we’ve reported on Groupon’s controversial financial operations before — notably at the first issuance of its S-1 in June — the company’s latest regulatory filing still contained some surprises. Here’s a roundup of some of the more interesting numbers from the daily deals pioneer’s fresh S-1:

  • 9,625: The number of full-time Groupon employees as of June 30, 2011. Considering that the company had 7,107 employees as of March 31, 2011 — up from the staff of 37 it had at the end of June 2009 – that represents downright jaw-dropping employee growth.
  • $878,018,000: The amount of top-line revenue Groupon took in between April 1 and June 30. That’s a 35 percent boost from the $644.7 million in revenue the company made in the first quarter of 2011.
  • $102,700,000: The amount of money Groupon ultimately lost between April 1 and June 30, after paying its operational costs. That’s actually a step up from the previous quarter, when Groupon posted a loss of $117 million.
  • $500,000: The base salary of Margaret Georgiadis, who was hired as Groupon’s new chief operating officer in mid-April. That makes her the Groupon executive with the highest base salary.
  • -$304,904,000: Groupon’s working capital deficit as of June 30. That means that Groupon’s liabilities exceed the company’s assets by nearly $305 million. That’s about 33 percent bigger than the working capital deficit Groupon had at the end of March, which was -$228.7 million.
  • 45: The number of countries Groupon is currently active in, which is two more than at the end of the first quarter.

With the larger financial markets in an ongoing tailspin following the US government’s debt downgrade, many are wondering if late-stage private companies will put their IPO plans on the back burner. With the new filing submitted Wednesday, however, Groupon is showing no signs of slowing down its public market debut. If nothing else, Groupon CEO Andrew Mason seems to be delivering on what he wrote in his letter to potential shareholders in the company’s S-1: “Life is too short to be a boring company.”

  1. Patrick Sullivan Wednesday, August 10, 2011

    “$102,700,000: The amount of money Groupon ultimately lost between April 1 and June 30, after paying its operational costs.” – That is Rad. Why wouldn’t people want to invest in this awesome company?!?

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    1. The argument, of course, is that Groupon is investing in growth, and the profits will come later. However, the financials call that into question. In Boston, the number of Groupons sold per quarter has flattened out, and worlwide, the number of Groupons sold only rose 15% from first to second quarter. So, how do they get any more growth?

      Expand into more markets? Yes, but how much more growth is there?

      Increase margins? Nope, gross profit margin is pretty flat.

      Increase revenue per Groupon? There’s evidence they are doing that, probably cherry-picking from their backlog of merchants to pick the high value deals.

      Put it all together, though, and I fail to see how they can get the amazing growth and profits they need to justify an amazing valuation.

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      1. I bought 6 Groupons a year ago, redeemed 2 of them and the other 4 expired. I haven’t used the service since. I would imagine many follow the same pattern. And now there are daily deals all over the place. I can’t wait to short Groupon when it goes public.

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  2. Agree completely there should be an SOS, not just on Groupon’s IPO but on its whole business model.

    See this detailed private company financial analysis report from PrivCo.com, which basically concludes this company’s business model isn’t viable and it will run out of cash in 6 month based on current cash spend trends.
    http://www.prnewswire.com/news-releases/groupon-ipo-in-jeopardy-due-to-increasing-local-competition-pricing-pressure-and-legal-threats-new-report-from-privco-media-llc-127491488.html

    Read more: http://www.businessinsider.com/sos-goes-out-for-groupon-ipo-2011-8#comment-4e4361f3ecad046d63000042#ixzz1Uh4hcygU

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  3. Agree completely there should be an SOS, not just on Groupon’s IPO but on its whole business model.

    See this detailed private company financial analysis report from PrivCo.com, which basically concludes this company’s business model isn’t viable and it will run out of cash in 6 month based on current cash spend trends.
    http://www.prnewswire.com/news-releases/groupon-ipo-in-jeopardy-due-to-increasing-local-competition-pricing-pressure-and-legal-threats-new-report-from-privco-media-llc-127491488.html

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