Groupon Stocks Surge After Announcement of Google Pay Distribution Deal

 

On November 2, Groupon announced a new distribution partnership with the popular mobile app Google Pay. The company’s local experiences as well as travel inventory will now be available on the app. The agreement will be launched in 2022. Users of Google app will gain access to several thousand unique local experiences within the app. They will also be able to check the travel inventory offered by Groupon. Shares of Groupon rose by 9.25 percent pre-market after the announcement. The new deal is expected to go live by the the first half of next year.

The American global e-commerce marketplace has been connecting subscribers with local merchants from 2008. The Chicago-based company expanded its operations in several countries. It is a marketplace that connects consumers with merchants who offer activities, services, travel, goods and more.

Aaron Cooper, who is interim chief executive officer of Groupon, said that their new partnership with Google Pay would greatly expand their ability to help merchants on their marketplace to reach new customers. It would also make it easier for a larger number of consumers to choose from thousands of experiences that were available on the Groupon marketplace.

Cooper also said that they had made a lot of “meaningful progress.” He said that the company had expanded its inventory and had modernized its marketplace. He said that it was easier for merchants and customers to do more with Groupon. He added that they were “excited” that Google Pay users had a “convenient way” to “access” their “marketplace.”

The chief revenue officer of Groupon, Simon Goodall also said that as they were one of the largest pay-for-performance advertising platforms for small businesses they believed that the new partnership would give merchants “greater distribution” and increase the number of customers who could be reached through the partnership.

 



  


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