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December 1, 2011

Groupon holiday deals surge 500% over last year

It sold over 6,50,000 holiday deals between Black Friday and Cyber Monday

By CBR Staff Writer

Groupon CEO Andrew Mason said in a blog post that Groupon had sold over 6,50,000 holiday deals between Black Friday and Cyber Monday in its holiday store "Grouponicus".

According to Mason, this is an increase of 500% over last year.

Shares of Groupon, which had stumbled after its much touted IPO, managed to rise quite close to their $20 IPO price at $17.50 following this development.

Mason added, "We’re back to communicating like a normal company again…well, as normal as we can muster at Groupon."

According to data analytics firm comScore, one in ten online shoppers are planning to buy at either Groupon or LivingSocial this holiday season, up from 4% in 2010.

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