Just posting what I found to be the most enjoyable piece of Groupon's S-1 document, filed today with the SEC. It's CEO Andrew Mason's letter to potential buyers of the Chicago company's stock.
But first, a few data points: Groupon said that it had revenues of $644 million in the first quarter of this year... 83 million subscribers who receive the company's daily e-mails offering discounts with local merchants...and 7,107 employees. (The fast-growing company still racked up a net loss of $146 million in the first quarter of the year, and $456 million last year.) Groupon hopes to raise as much as $750 million in its initial public offering.
In Boston, the second-oldest market that Groupon operates in (after Chicago), the company counted 778,000 subscribers to its e-mails at the end of March. In the first quarter of 2011, it sold 388,000 Groupon coupons, bringing in $9.3 million in revenue.
To read the full, original article click on this link: Groupon CEO Andrew Mason's letter to potential stockholders, from company's IPO filing - Innovation Economy - Boston.com
Author:Scott Kirsner
