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NEWS
June 3, 2011 | Associated Press
SAN FRANCISCO - Rapidly growing online-coupon-seller Groupon Inc. is dangling its most tantalizing deal yet - an initial public offering of stock. The prospect is likely to intensify a debate about whether an investment bubble is forming around promising but still unproven Internet companies. Groupon took the first step toward selling its stock on Wall Street by filing its IPO papers Wednesday with the Securities and Exchange Commission. The much-anticipated filing comes just two weeks after LinkedIn Corp., a popular Internet service for professional networking, saw its shares double in their first day of trading.
NEWS
March 15, 2011 | By Michael Klein, Inquirer Columnist
If you bought Monday's Groupon "Deal of the Day" offering of $30 worth of food for $15 at Franco's Trattoria on Ridge Avenue in East Falls, be advised that the restaurant closed for good over the weekend. Before the deal was pulled from Groupon's website Monday afternoon, 105 offers had been sold. A Groupon rep said purchases would be refunded. Building owner Mark Sherman said he was looking for a new operator to run the restaurant, which is off Kelly Drive beneath the twin bridges.
NEWS
August 15, 2012 | ASSOCIATED PRESS
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.
BUSINESS
September 16, 2011 | By Teresa F. Lindeman, Pittsburgh Post-Gazette
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.
BUSINESS
January 27, 2012 | By Jeff Gelles, Inquirer Staff Writer
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.
BUSINESS
May 28, 2011 | By Ellen Gibson, Associated Press
Groupon is adding 150 employees a month at its U.S. headquarters and trains them in a church because the conference rooms at its headquarters aren't big enough. Ideeli has crammed so much electronic equipment into its New York office that the power goes out every day. And at LivingSocial, well, the living is a little too social. Its third office in Washington, open just two months, ran out of room so fast that employees have to work at narrow desks in the hallway. These deal-a-day websites blast e-mail offers for deep discounts, sometimes good for only a few hours - and they're becoming so popular that their offices are starting to look as crowded as their subscribers' inboxes.
BUSINESS
March 5, 2013 | By Mike Armstrong, Inquirer Columnist
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.
NEWS
August 1, 2012 | By Peter Mucha, Inquirer Staff Writer
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.
NEWS
May 19, 2011 | Associated Press
NEW YORK - LinkedIn's stock nearly doubled in its market debut because of huge investor demand for the first major U.S. social networking company to go public. The stock traded at $87.11, up 94 percent, Thursday morning after debuting at $83 and briefly reaching $92.99. Trading in the stock didn't begin until almost 10 this morning, not unusual in a hotly anticipated IPO. Renaissance Capital, an IPO research and investment firm, said LinkedIn's 84 percent increase at the open was the biggest for a U.S. IPO since the 2009 debut of OpenTable Inc., a restaurant reservations website.
BUSINESS
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.
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ARTICLES BY DATE
BUSINESS
March 5, 2013 | By Mike Armstrong, Inquirer Columnist
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.
NEWS
August 15, 2012 | ASSOCIATED PRESS
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.
NEWS
August 1, 2012 | By Peter Mucha, Inquirer Staff Writer
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.
NEWS
May 25, 2012 | Ronnie Polaneczky
"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.
BUSINESS
March 12, 2012 | By Diane Mastrull, Inquirer Columnist
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)
BUSINESS
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.
BUSINESS
January 27, 2012 | By Jeff Gelles, Inquirer Staff Writer
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.
BUSINESS
September 16, 2011 | By Teresa F. Lindeman, Pittsburgh Post-Gazette
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.
FOOD
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.
ENTERTAINMENT
August 3, 2011 | By Gregory Thomas, Inquirer Staff Writer
Part of Polly Chung's morning routine, while sipping her coffee, is to peruse the 100 or so daily e-mail alerts that stream into her in-box each night. They come from Groupon, LivingSocial, and dozens of other deal-a-day websites offering hefty discounts at nearby businesses that bank on a consumer's compulsion to seize a good deal before time runs out. More often than not, Chung, a middle-aged New Yorker, buys something - two-for-one movie tickets or maybe a visit to the acupuncturist - and adds it to a spreadsheet she created to track the hundreds of deals she's purchased.
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