Beleaguered daily deals site Groupon Inc(NASDAQ:GRPN) is looking at numerous ways to raise its revenue and build market share, its vice president of global sales said on Friday.
The company is now getting into deals with overseas entities so that retailers, from whom they source their products and services, can also spread their presence.
"That really is where we have added advantage, being in 48 countries," said Rajen Ruparell, vice president of global sales, speaking Friday at the Reuters Retail and Consumer Summit in New York.
Groupon was in a position to do deals not only in the U.S. or Europe but also in other countries in Asia, South America where there is a lot of untapped opportunity. Retailers would like to expand into these geographies and Groupon could help them, he said.
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Global deals help the company build a common platform and negotiate better deals, Ruparell told Reuters. It is also something merchants want.
Like many other social media companies Groupon stock has been battered and has lost nearly three-fourths of its value since its debuted in the market in November 2011.
The slowdown in the economy in the U.S. and Europe has resulted in lower revenues for the company. Analysts also raised questions about the company's revenue model and its ability to sustain margins.
Groupon provides discounted deals on services such as spas, saloons and restaurants.
On another front in order to manage its inventory, the company is becoming more aggressive there with better levels of inventory so that products reach customers faster. It is also tying up with more merchant in order to provide customers with a wider choice.
Shares of GRPN had an amazing run up last week and rose 23%.