Revenues were up for Groupon in August, though the daily deals craze as a whole was looking a bit grim about the mouth. The company gained 2 percent market share this past month and revenue jumped 13 percent to $120.7 million according to TechCrunch. Groupon Getaways, the company’s travel offering, also saw a growth in revenue, from $5.7 million in July to $9.6 million in August.
The company, which planned to go public after Labor Day but which is now caught in a holding pattern with the Securities and Exchange Commission, didn’t have all good news. The number of deals Groupon actually sold was down 14 percent – the increase in revenues is due to higher deal prices.
While Groupon waits for a decision on the future of its IPO, which was imperiled first by suspicious accounting practices and then by a leaked memo from the company’s founder, the company’s competitors fared little better. LivingSocial saw a 3 percent revenue drop this past month while the daily deal market overall was up 9 percent. Estimates are that the market for daily deals overall was $228 million in August.
Read more at Digital Trends.
