The filing finally reveals the details of Groupon’s financials, which have long been the subject of speculation. For the full year of 2010, the company’s revenue totaled $713 million, up an astounding 23x from 2009. However, the company’s revenue in just the first quarter of 2011 was $644 million, showing just how fast Groupon continues to grow.
Groupon’s subscriber base has shown a similar growth trajectory, with the company serving its deals to more than 83 million subscribers at the end of the first quarter, up from 50 million at the end of 2010.
The company has paid a price for that robust growth, however, and is not currently profitable. In its filing, Groupon writes, “We have incurred net losses since incep tion and we expect our operating expenses to increase significantly in the foreseeable future … We incurred net losses of $389.6 million and $102.7 million in 2010 and the first quarter of 2011.”
More to come …
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