Today, Groupon––the go-to destination for local experiences––announced a new U.S. distribution arrangement with Google. Under the terms of the agreement and upon launch of the partnership in early 2022, Google Pay mobile app users will have convenient access––in the Google Pay app––to the thousands of unique local experiences and travel inventory available in the Groupon marketplace.
“At Groupon, we’re focused on becoming the destination for local experiences by connecting consumers to merchants. This new partnership with Google Pay will greatly expand our ability to help merchants reach new customers and make it easier for more consumers to tap into the thousands of experiences available in the Groupon marketplace,” said Aaron Cooper, Interim CEO, Groupon. “Over the past 18 months, we’ve made meaningful progress expanding our inventory and modernizing our marketplace by making it easier for merchants and customers to do more with Groupon. We’re so excited Google Pay users will now have a convenient way to access our marketplace.”
As part of Groupon’s strategy to grow share in its $1 trillion addressable market and to capture more of the 80-plus Grouponable moments happening every year, the company has focused on improving the merchant and customer value propositions. For merchants, Groupon has enhanced the ways they can interact with the Groupon marketplace by enabling them to add more of their full menu, extending their reach to new and existing customers and giving them the monetization levels they need to achieve healthy unit economics. For customers, Groupon has focused on giving them the value, selection and convenience they want and have come to expect from a modern marketplace by launching a new, personalized user experience in North America aimed at driving greater sell-through of its expanded inventory and removing restrictions from local experiences to encourage repeat purchases.
“As a two-sided marketplace, Groupon provides both consumers and merchants with a unique value proposition. Consumers come to Groupon because we have one of the widest selections of local experiences at great values,” said Simon Goodall, Chief Revenue Officer, Groupon. “And as one of the largest pay-for-performance advertising platforms for small businesses, we believe this new partnership will give merchants even greater distribution and help drive more customers through their doors.”
“By teaming up with Groupon, we’re able to help more small businesses make connections with consumers who are eager to get out and explore the world around them,” said Bharathi Ramavarjula, Head of Google Pay. “This partnership will make it easier than ever for Google Pay users to browse, click and purchase the fun and affordable experiences available in the Groupon marketplace.”
The Groupon and Google distribution partnership will go live in the first half of 2022.
Companies interested in featuring Groupon’s local experience inventory, should visit Groupon.com/developers for more information.
Note on Forward-Looking Statements
The statements contained in this release that refer to plans and expectations for the next quarter, the full year or the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations. The words "may," "will," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue" and other similar expressions are intended to identify forward-looking statements. We have based these forward looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, but are not limited to, effects of the ongoing COVID-19 pandemic or other pandemics or disease outbreaks on our business; our ability to execute, and achieve the expected benefits of, our go-forward strategy; execution of our business and marketing strategies; volatility in our operating results; challenges arising from our international operations, including fluctuations in currency exchange rates, legal and regulatory developments in the jurisdictions in which we operate; global economic uncertainty; retaining and adding high quality merchants; retaining existing customers and adding new customers; competing successfully in our industry; providing a compelling mobile experience for our customers; managing refund risks; retaining and attracting members of our executive team and other qualified personnel; customer and merchant fraud; payment-related risks; our reliance on email, internet search engines and mobile application marketplaces to drive traffic to our marketplace; cybersecurity breaches; maintaining and improving our information technology infrastructure; reliance on cloud-based computing platforms; completing and realizing the anticipated benefits from acquisitions, dispositions, joint ventures and strategic investments; lack of control over minority investments; managing inventory and order fulfillment risks; claims related to product and service offerings; protecting our intellectual property; maintaining a strong brand; the impact of future and pending litigation; compliance with domestic and foreign laws and regulations, including the CARD Act, GDPR and regulation of the Internet and e-commerce; classification of our independent contractors or employees; exposure to greater than anticipated tax liabilities; adoption of tax legislation; our ability to raise capital if necessary; risks related to our access to capital and outstanding indebtedness, including our convertible senior notes; our common stock, including volatility in our stock price; our ability to realize the anticipated benefits from the capped call transactions relating to our convertible senior notes; and those risks and other factors discussed in Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2020 and Part II, Item 1A. Risk Factors of our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, and our other filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained by visiting the company's Investor Relations web site at investor.groupon.com or the SEC's web site at www.sec.gov. Groupon's actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance.
You should not rely upon forward-looking statements as predictions of future events. Although Groupon believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither Groupon nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements reflect our expectations as of the date of this release. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
Groupon (NASDAQ: GRPN) is an experiences marketplace where consumers discover fun things to do and local businesses thrive. For our customers, this means giving them an amazing selection of experiences at great values. For our merchants, this means making it easy for them to partner with Groupon and reach millions of consumers around the world.