[Courtesy of Groupon]
Groupon, online based daily deals and local commerce platform, is closing down its Businesses in Sweden, Denmark, Norway and Finland.
According to a report by TechCrunch on Tuesday, Groupon has ceased its operations in the Northern European countries because of its businesses were in decline. Groupon is going through a difficult time, with over one thousand employees laid off, Change in CEOs and other misfortunes in recent months.
Groupon had been trying to widen its market by starting businesses worldwide. But the results were not good. According to a Groupon’s official, the company had businesses running in 40 countries but found difficult to make profits in all countries, which made Groupon pull its businesses out of some.
Once being the most successful daily deals platform, started its business in 2008, Chicago. With exploding amount of users and sales, the company expanded its business to 44 countries worldwide.
Following its success, Groupon was offered U.S$ 6 billion from Google for the company in 2011 but declined it. Ironically, Groupon’s stock prices halved in less than 6 months after the offer and Andrew Mason, the founder had to leave the company.
Groupon also began its business by taking over 100 percent of the share of TicketMonster, 2013, a Korean daily deals and local commerce platform. But Groupon failed to make a profit and had to sell back a part of the share a year after.
아주경제 박세진 기자 = swatchsjp@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
