Groupon Reportedly Puts Itself on the Market | Street Fight

Groupon Reportedly Puts Itself on the Market

Groupon Reportedly Puts Itself on the Market

Groupon, the early pioneer in local deals that was once valued at as much as $16 billion, is on an avid hunt for a buyer, Recode reported this weekend. Executives and banking representatives at Groupon have reportedly been pursuing potential targets.

Though the local icon is at about $2.5 billion now worth a fraction of its IPO-hour valuation, it remains a big player in the space and could see new life as part of a larger public company. Groupon turned a profit in 2017 for the first time in years, and its 2018 Q1 earnings beat expectations

Reports float Alibaba, which bought a 6% stake in Groupon in 2016, as a likely potential buyer. The outcome of Groupon’s search for a buyer and the aftermath of a potential acquisition would be telling for the future of digital-driven local deals, once the bread and butter of a hyperlocal digital economy that has since seen developments in such areas as AI-backed attribution, voice-driven search, and on-demand delivery.