Boston, MA 04/25/2014 (wallstreetpr) - Groupon Inc (NASDAQ:GRPN) expects the adjusted EBITDA margin for the current financial year to be slightly above last fiscal levels. The company has, in the first quarter of this year, incurred one-time expenses relating to integration of its latest takeovers and making big investments to drive profitability and growth.
Groupon Inc (NASDAQ:GRPN) it has successfully completed the takeover of a Korean ecommerce company, Ticket Monster. Ticket Monster is a subsidiary of LivingSocial Inc. The deal has been sealed for a total consideration of $260 million which includes $160 million in Groupon Class A common stock and $100 million in cash. The acquisition will have no effect on the Ticket Monster brand as this brand and leadership team will continue to remain in place. The current CEO of Ticket Monster, Daniel Shin will continue to steer the leadership team in the brand. Most of the formalities for the deal are done though final closure is expected by the end of the second quarter of this financial year. Once the Korean Fair Trade Commission provides its regulatory approval for the deal and the remaining closing conditions have been fulfilled, the transaction will be closed.
In a bid to expand its footprints across different products and grab a larger client base, Groupon Inc has acquired fashion portal, Ideeli. This is seen as the company’s ticket in tapping the apparel and fashion market. The deal has been closed for a cash consideration of $43 million.
Groupon Inc (NASDAQ:GRPN) has completed the acquisition of SideTour, a web market that enables people to discover, book and host local activities. Terms of the transaction were not shared.
Groupon Inc (NASDAQ:GRPN) has acquired the last moment travel application Blink, a European destination travel site, for fantastic deals on curated and same-day hotel bookings. The Cuba based company has over 2,000 hotel partners across 8 countries in Europe. Terms of the deal were not disclosed. The Blink app has been rebranded as “Blink by Groupon” and will separately operate as its team will now be able to provide to its customers an integrated and unique experience that takes full advantage of the entire breadth of Groupon’s global travel deals.