Groupon Stock Drops 12% As Customer Refunds Increase
While other IPOs such as LinkedIn and YELP have had tremendous recent success, social buying startup Groupon has been on a bit of a roller coaster ride and it looks like they just went over a steep drop. The stock is down over 10% today on news that four-quarter revenue and income is down due to a higher than expected number of customers asking for refunds.
Groupon is a social buying service that allows users to buy specific items at discount as long as a large number of people participate in a given deal.
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