Groupon announced its third quarter results on November 5, 2020. The company spoke about its notable progress despite challenges and the pandemic. Aaron Cooper, interim CEO of Groupon said, “The entire Groupon organization is focused on returning the company to growth, and in the third quarter we made notable progress.” He also said that the durability of their organization and their hard work, despite the pandemic, makes them believe that they are in a good position in the trillion-dollar local market.
“I am excited about our team’s ability to deliver another solid quarter in the midst of the pandemic, including a sequential improvement in Local revenue and $31M of Adjusted EBITDA,” said Melissa Thomas, Groupon CFO. “While we have had to make some very tough decisions this year, we believe we have significantly strengthened our foundation and positioned Groupon for long-term, sustainable growth.”
Groupon projects itself as an “experiences marketplace.” Consumers get to do fun things while local businesses thrive. Customers get a wide selection of varied experiences at affordable and great value. Merchants and companies’ partner with Groupon to increase their customer base to millions worldwide.
(NASDAQ: GRPN) CWEB Analysts view the stock as a long term growth and a great addition to your investment portfolio with an upward momentum of $60-$130 by 2021 with direct competition to Amazon and Etsy.