Groupon: Mobile transactions driving 40% of revenue mix
Groupon reported fourth-quarter revenues of $638.8 million, up 30 percent year-over-year thanks in part to the continued growth of its mobile deals platform. Operating losses totaled $12.9 million, compared to $15 million in the fourth quarter of 2011. Gross billings--which reflect the total dollar value of customer purchases of goods and services--increased 24 percent to $1.52 billion.
As of January 2013, nearly 40 percent of Groupon's North American transactions were completed on mobile devices, up 44 percent compared to January 2012 and increasing from about one third of transactions in October of last year. In addition to its core consumer deals app, Groupon offers merchants its GrouponPayments transaction processing service (designed to rival similar efforts from Square and PayPal) as well as BreadCrumb, a point-of-sale platform enabling restaurants, bars and cafés across the U.S. to run their businesses via Apple's (NASDAQ:AAPL) iPad tablet. Last month, Groupon acquired Glassmap, a real-time location sharing and local discovery service optimized for Apple's iOS and Google's (NASDAQ:GOOG) Android.
Groupon presents daily bargains from businesses across a range of verticals. Last year, Groupon founder and CEO Andrew Mason told investors that the company's mobile shoppers spend about twice as much on average as their desktop counterparts. Release