Groupon CFO says shared more revenue with merchants in fourth quarter
SAN FRANCISCO (Reuters) - Groupon Inc Said it raised the percentage of revenue it shared with partner merchants in the fourth quarter, a move intended to keep and attract merchants for the Internet deals it runs, but that ate into revenue and profitability.
Chief Financial Officer Jason Child told Reuters in an interview that Groupon began taking about 35 percent of deal-revenue in the quarter and handing 65 percent to its partners, describing the so-called "take rate."
Groupon historically has kept about 40 percent of revenue generated through daily deals on its website.
- IBM launches Watson system for research, hopes for breakthroughs
- Separatists say will allow 'trapped' Ukrainian forces to withdraw |
- California passes 'yes-means-yes' campus sexual assault bill
- In town halls, U.S. lawmakers hear voter anger over illegal migrants |
- Comedian Joan Rivers 'resting comfortably' at hospital |