Marking a fourth consecutive day of gains Groupon Inc (NASDAQ:GRPN)’s shares posted its best weekly gain since December 9, 2012. For the week, the stock was up 23.42%. Earlier for the week ended December 09, 2011, the stock had jumped 23.90%.
Working on cross-border and multi-country GPRN the world’s largest online daily deals provider looks for newer ways to build market share and help retailers broaden their footprint, a top executive said.
Rajen Ruparell, vice president of global sales, speaking Friday at the Reuters Retail and Consumer Summit in New York said; "That really is where we have added advantage, being in 48 countries," "We can do national deals with retailers not only in the United States or Europe, but in countries where they would like to build their footprint in, and some of them are starting to realize that opportunity now,"
Once being the ever fast growing internet company, a lot of questions have been raised on the sustainability of its business of selling discount vouchers online and about its growth in domestic market as it has shed almost of its three-quarters market value since its debut in November 2011.
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Groupon surged 8% on Tuesday, and rose 1% Wednesday and 2.2% Thursday. The stock was up another 10.71% to $5.27 on Friday. But even with the good week, the stock's still nearly 75% below its Nov. 4 IPO price of $20.
Ruparell said that Global deals help the company build a common platform and negotiate better deals. It is in discussion to expand its deal with Rosetta Stone Inc (RST.N) which would help to take the language-learning software maker beyond the 10 countries in which it operates.
"One of the discussions we've been having actively with them is seeing how we can expand their global footprints outside of the U.S. into the mid-European countries," said Ruparell. He added there could be a Rosetta Stone Inc deal in Russia within a week.
While it irons out glitches in merchant tie-ups, the company is also being more "aggressive in building inventory".