Groupon is growing and growing fast!
In fact, its first-quarter revenue was up by 1,475% from last year to $645 million.
This marks a faster growth than other giants like Google, eBay and Amazon experienced.
Just to compare, Google’s revenue rose "only" 352% in its second year while eBay and Amazon’s rose a bit over 700%. That’s almost twice the growth for Groupon!
A rep for Wedbush’s "Second Internet" research unit, reveals:
"Groupon and the rest of the industry have grown so rapidly because, for the first time in history, merchants can leverage the Internet in scale. The deal commerce space is going to be massive."
But all isn’t too rosy for Groupon, as they reported in their S-1 filing last week a $450 million loss.
So although they are doing well, other competitors like LivingSocial, which is backed by Amazon and Facebook still pose a threat.
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Tags: amazon, competitor, ebay, facebook, google, internet, money