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Groupon CFO says global demand very strong
GrouponInc Chief Financial Officer Jason Child said on Wednesday that the company's international business is still growing strongly, despite turmoil in Europe.
GrouponInc Chief Financial Officer Jason Child said on Wednesday that the company's international business is still growing strongly, despite turmoil in Europe. Child said global demand for the company's daily deals and other offers was "very strong," during a presentation to investors which was webcast from a conference in Scottsdale, Arizona.
The event marked the first time that Child and Chief Executive Andrew Mason have spoken publicly since the company went public in early November, ending a quiet period that typically follows IPOs. Groupon shares slumped below the $20 IPO price last week on concern about competition from closest rival LivingSocial and worries that the
European debt crisis could dent growth of the company's large international business.
Groupon gets more than half its revenue outside the U.S. and expects its overseas business to become a larger part of its overall operations.
