Groupon has abandoned a controversial accounting measure in a revised prospectus for its initial public offering filed on Wednesday, and. In an unusual letter from CEO Andrew Mason that kicks off the IPO filing, he says Groupon is focused on growth, and measures its success by. Groupon is out with the fourth update to its IPO prospectus.
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In many countries, we compete with local companies that understand the local market better than we do, and we may not benefit from first-to-market advantages. We are subject to risks associated with information disseminated through our websites and applications, including consumer data, content that is produced by our editorial staff and errors or omissions related to our product offerings. Consolidated Balance Sheet Data: Our management team may not successfully or efficiently manage our transition to being a public company that will be subject to significant regulatory oversight and reporting obligations under the federal securities laws.
Groupon IPO Filing Includes Entire E-mail From CEO – Deal Journal – WSJ
Any disruption in these services or any failure of these providers to handle existing or increased traffic could significantly harm our business. Any failure, or perceived failure, by us to comply with our posted privacy policies or with any data-related consent orders, Federal Trade Commission requirements or orders or other federal, state or international privacy or consumer protection-related laws, regulations or industry self-regulatory principles could result in claims, proceedings or actions against us by governmental entities or others or other liabilities, which could adversely affect our business.
The costs of supporting such litigation and disputes are considerable, and there can be no assurances that favorable outcomes will be obtained. To drive merchant growth, we have expanded the number of ways in which consumers can discover deals through our marketplace.
The Point is a social action platform that lets anyone organize a campaign asking others to give money or take action as a group, but only once a yroupon point” of people agree to participate. We are always reinventing ourselves. The consolidated statements of operations, balance sheets and statements of cash flows include the results of entities acquired from the effective date of the acquisition for accounting purposes.
Our employee headcount lpo number of subscribers have increased significantly since our inception, and we expect this growth to continue for the foreseeable future.
We prospcetus not receive any proceeds from the sale of shares by the selling stockholders. Our total number of subscribers may be higher than the number of our actual subscribers and may not be representative of the number of persons who are active potential customers. We intend to continue to pursue a strategy of significant investment in these areas.
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The increase in the number of Groupons sold was driven by subscriber growth in our existing markets and our entry into new markets. If the launch of a new category requires investments greater than we expect, if we are unable to generate sufficient merchant offers which are of high quality, value and variety or if the revenue generated from a new category grows more slowly ipp produces lower gross profit than we expect, our results of operations could be adversely impacted.
A significant decrease in the level of usage prospectuus subscriber growth would have an adverse effect on our business, financial condition and results of operations. Groupon NOW, for example, allows customers to pull deals on demand for immediate redemption, and helps keep merchants bustling throughout the day.
In most of our International markets, merchants are proospectus paid until the customer redeems the Groupon.
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In addition, a failure or perceived failure to comply with industry standards or with our own privacy policies and practices could result in a loss of subscribers or merchants and adversely affect our business.
Struggling with too many customers instead of too few. Live in a glass-walled home. As exchange rates vary, sales and other operating results, when translated, may differ materially ggoupon expectations.
We anticipate that our operating expenses will increase substantially in the foreseeable future as we continue to invest to increase our subscriber base, increase the number and variety of gdoupon we offer each day, expand our marketing channels, expand our operations, hire additional employees and develop our technology platform.
Groupons may be considered gift cards, gift certificates, stored value cards or prepaid prosppectus and therefore governed by, among other laws, the CARD Act, and state laws governing gift cards, stored value cards and coupons.
We are seeking to hire a significant number of personnel inincluding certain key management personnel. We expect that the additional reporting and other obligations imposed on us by these rules and regulations will increase our legal and financial compliance costs and the costs of our related legal, accounting and administrative gdoupon significantly. Unless otherwise indicated, information contained in this prospectus concerning our industry and the market in which we operate, including our general expectations and market position, market opportunity and market size, is based on information from various sources, on assumptions that we have made that are based on those data and other similar sources and on our knowledge of the markets for our offerings.
As a result of the entry into these new markets and growth in existing markets we added As we expand our international operations and have additional portions of our international revenue denominated in foreign currencies, we also could become subject to increased difficulties in collecting accounts propsectus and repatriating money without adverse tax consequences and increased risks relating to foreign currency exchange rate fluctuations. We may also face greater competition in specific categories from internet sites that are more focused on such categories.
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Neither we, the selling stockholders nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than the United States.
To date, these transactions have not had a material impact on our results of operations. Many of these laws contain provisions governing the use of gift cards, gift certificates, stored value cards or prepaid cards, including specific disclosure requirements and prohibitions or limitations on the use of expiration dates and the imposition of certain fees.
In particular, in the event that we are restricted, in whole or in part, from operating in one or more countries, our ability to retain or increase our subscriber base may be adversely affected and we may not be able to maintain or grow our revenue as anticipated.