April 6, 2016 |
Former Comcast Corp. CFO Michael Angelakis, now running a $4 billion Comcast-backed investment fund, made his first big bet Monday with a $250 million investment in battered online-deals site Groupon. Angelakis will join the Groupon board as part of the transaction, Groupon said. Angelakis, Comcast's former chief financial officer and vice chairman, launched Atairos earlier this year, with offices in New York and Bryn Mawr. Comcast has agreed to fund Atairos with $4 billion. Atairos will be purchasing $250 million in senior notes that are due in 2022 and can initially be converted into Groupon shares at $5.40 a share, Groupon said Monday.
March 5, 2013 |
Thanks to the exuberant start by the U.S. stock market in 2013, hopes normally would be high for a popping market for initial public offerings. But since the financial crisis, little has been normal. As for IPOs, the mere mention of Facebook and Groupon can still cause investors to wince. Facebook, which raised $16 billion in its May 2012 IPO, saw its share price crater and has yet to retrace the way back to its $38 debut. Groupon, which went public in 2011, has watched its market value slide from more than $16 billion to about $3 billion last week.
August 15, 2012 |
LOS ANGELES - Groupon's stock was 27 percent cheaper Tuesday, but that doesn't make it a bargain. Its stock fell to an all-time low as analysts slashed targets and ratings on the online-deals company after it reported its first-ever quarter-to-quarter decline in gross billings, a measure of how much money Groupon collects from customers. Groupon blamed the weak economy in Europe and unfavorable currency-exchange rates. But analysts pointed to a more troubling possibility: online-deals fatigue.
August 1, 2012 |
A Russian-born billionaire who dropped out of the University of Pennsylvania's Wharton School has just made the Nobel Prize for Physics look like chump change. Yuri Milner, 50, has made big splashes before, investing hundreds of millions in the likes of Facebook and Groupon, gracing the cover of Forbes last year, and, this spring, spending $100 million for a single-family Silicon Valley home. Now, Milner, who was educated as a physicist before seeking his Wharton M.B.A. in the early '90s, has awarded $3 million each to nine physicists, including four at Princeton's Center for Advanced Study.
May 25, 2012 |
"OBVIOUSLY, this is a really cool thing," says Ryan Rubino. "We'll want to do something to celebrate. But we'll wait a few weeks, out of respect for our friends. Because this is bittersweet. " Bittersweet, indeed, that San Francisco's iconic eatery Fior D'Italia went belly-up on Tuesday after 126 years of serving calamari, osso buco and gnocchi to hungry masses. Fior d'Italia, founded in 1886, is no longer America's oldest Italian restaurant. That oven-hot torch has now passed to Ralph's, on South 9th Street near Catharine, founded in 1900 by Rubino's great-great-grandparents Francesco and Catherine Dispigno.
March 12, 2012 |
When Brian and Sharon Squires got into the coupon business more than 20 years ago, Internet shopping didn't exist; neither did TLC's Extreme Couponing and its homage to bargain hunting. Actually, coupons were a rather dull affair, mostly black-and-white clippings from the newspaper, or slightly snazzier versions crammed into envelopes that showed up in the mail. The Squireses - sweethearts since their days at Northeast High School and then at Temple University (Class of '79)
January 29, 2012
"I can see how the red ink may be perceived as abnormal. " - Nintendo Co. Ltd. president Satoru Iwata, in blaming a strong Japanese yen and competition for a reduced earnings forecast. "We don't want to be used for a PR event. " - David Roth, an "Occupy" protester at the World Economic Forum in Davos, Switzerland, on an offer to meet with forum organizers. "About two dozen customers have basically made me low-interest loans, so that we can restructure our loans, restock, and move forward.
January 27, 2012 |
The Internet nearly killed Amy Kunkle's Philadelphia business when an ill-advised Groupon offer drove her thousands of dollars into a hole. But this week, the Internet also helped save it. Kunkle owns Mount Airy's Food for All Market, a cafe and shop at 7127 Germantown Ave. Food for All serves a special niche: people wary of certain foods - nuts, soy, eggs, wheat, and others - that cause them allergic reactions. It's a market Kunkle, 36, knows firsthand. She and her son Gabriel, 8, both carry emergency pens to inject themselves with epinephrine in case they react to an allergen.
September 16, 2011 |
PITTSBURGH - Lara Bruhn, co-owner of Prantl's Bakery here, wanted to check out the daily-deal phenomenon popularized by companies such as Groupon and Living Social, so she subscribed to a few of the sites. That set off a steady stream of e-mail offers for yoga classes, restaurants, and numerous teeth-whitening services. "How white can your teeth really be?" she joked. At this point, Bruhn is regularly deleting the e-mails. "Can you tell I'm just a little jaded?" she said.
August 11, 2011
Here is an excerpt from Craig LaBan's online chat: C.L.: I heard Night Market in Mount Airy was awesome. I was so jealous not to taste the artisan pizzas from Nomad's REO Speedwagon pizza truck that I took a road trip to Nomad's home base in Hopewell, N.J. Nomad, for folks who don't know, is opening a branch in Philly in October, in the former Horizons space at Seventh and Bainbridge. Based on my visit, I am S-T-O-K-E-D! Across from a postcard-perfect white church, this little clapboard building is like a dreamy pizzeria chapel.