Groupon shares jump as company looking to sell itself

Irving Hamilton
July 10, 2018

Groupon shares rallied Monday on a report the discount-voucher website is putting out feelers in hopes of being acquired.

However, the company's revenue fell by 5.6 percent to $2.84 billion in 2017 - lowest since 2013, the report adds.

Chicago-based Groupon's shares rose as much as 12 percent before the start of regular trading in the U.S. The stock closed Friday at $4.36 in NY. Recode reported the company's executives have been increasingly aggressive in their search for an acquirer over the last month, though a Groupon spokesperson declined to comment on the search.

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Groupon, was valued at around $16 billion when it listed on the Nasdaq Composite in 2011. They include a streamlined mobile app and Groupon+, which lets users get cash back by linking their credit cards to their Groupon accounts.

Currently, Groupon's value is estimated to be around $2.4 billion, after a year's decline in the daily deals section.

Since taking over as CEO in 2015, Rich Williams has been trying to turn Groupon around, with the company struggling in the face of competition from sites including Yelp.

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