June 3, 2011 |
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.
March 15, 2011 |
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.
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.
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.
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.
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.
July 26, 2011 |
KEVIN McELROY won't speak with me on the phone. So I've been unable to ask this very important businessman a question: Does he give a damn about the Philadelphia wedding disaster he's unleashed on Brett Condon and Rob Zahorchak? Condon, 28, and Zahorchak, 31, were supposed to marry on Saturday, Sept. 24, aboard the Philadelphia Belle - the restaurant/catering paddleboat, docked at Penn's Landing, that opened with dazzle in December. The couple paid their entire $18,998 Belle bill on June 29, two months before it was due. That's because Brett, a new attorney at the Center City law firm Weber Gallagher, and Rob, a manager with GameStop, "scrimped and saved, and the cash was in the bank.
May 28, 2011 |
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.
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.
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.