Expands current local food and drink business into new high growth
category
CHICAGO--(BUSINESS WIRE)--
Groupon (http://www.groupon.com)
today announced the acquisition of OrderUp (www.orderup.com),
an on-demand online and mobile food ordering and delivery marketplace
operating in nearly 40 markets across the United States. The addition of
OrderUp significantly boosts Groupon's presence in the $70 billion food
ordering and delivery sector.
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"Online food ordering and delivery represents an untapped opportunity
for Groupon and serves as a natural extension of our local marketplace,"
said Groupon CEO Eric Lefkofsky. "The potential in delivery and takeout
is apparent -- especially with the growth of mobile -- and OrderUp's
operational ability, coupled with Groupon's engaged customer and
merchant base, bring tremendous scale to the space."
With more than 10 million orders processed, OrderUp brings food ordering
and delivery expertise, as well as thousands of additional restaurant
relationships. Paired with Groupon's approximately 25 million active
North America customers, the deal creates an online and mobile food
ordering marketplace of significant size and scale.
"Groupon's reach and ability to connect supply and demand at scale make
it the perfect destination for us to grow even faster and expand in our
targeted local markets," said OrderUp CEO Chris Jeffery. "We look
forward to bringing the thousands of great restaurants that we feature
to hungry Groupon customers across the country."
Founded in 2009, OrderUp serves metropolitan areas such as Baltimore,
Md. and Denver, and markets with large student populations such as
Bloomington, Ind., Boulder, Colo. and State College, Pa., among others.
OrderUp will continue to operate as a standalone brand with inventory
cross promotion through Groupon's marketplace and merchant
pages. The company will maintain its current Baltimore headquarters.
To browse OrderUp's entire menu of online and mobile food ordering and
delivery options, please download the OrderUp app for iOS
or Android
or visit www.orderup.com.
Restaurants interested in working with OrderUp can visit restaurant.orderup.com.
About OrderUp
Headquartered in Baltimore, OrderUp is the most complete on-demand food
delivery marketplace for local markets outside of the top metros. With
feet on the street in markets nationwide, OrderUp provides easy access
to great food from locals' favorite restaurants. Visit orderup.com
or download the OrderUp app for iOS and Android.
About Groupon
Groupon (NASDAQ: GRPN) is a global leader of local commerce and the
place you start when you want to buy just about anything, anytime,
anywhere. By leveraging the company's global relationships and scale,
Groupon offers consumers a vast marketplace of unbeatable deals all over
the world. Shoppers discover the best a city has to offer on the web or
on mobile with Groupon Local, enjoy vacations with Groupon Getaways, and
find a curated selection of electronics, fashion, home furnishings and
more with Groupon Goods.
Groupon is redefining how traditional small businesses attract, retain
and interact with customers by providing merchants with a suite of
products and services, including customizable deal campaigns, credit
card payment processing capabilities, and point-of-sale solutions that
help businesses grow and operate more effectively. To search for great
deals or subscribe to Groupon emails, visit www.Groupon.com.
To download Groupon's top-rated mobile apps, visit www.groupon.com/mobile.
To learn more about the company's merchant solutions and how to work
with Groupon, visit www.GrouponWorks.com.
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 that involve a number of risks and
uncertainties, and actual results could differ materially from those
discussed. The risks and uncertainties that could cause our results to
differ materially from those included in the forward-looking statements
include, but are not limited to, volatility in our revenue and operating
results; risks related to our business strategy including our marketing
strategy and spend; effectively dealing with challenges arising from our
international operations including fluctuations in currency exchange
rates; retaining existing customers and adding new customers; retaining
and adding new and high quality merchants; cyber security breaches;
incurring expenses as we expand our business; competing successfully in
our industry; maintaining favorable payment terms with our business
partners; providing a strong mobile experience for our customers;
delivery and routing of our emails; maintaining a strong brand; managing
inventory and order fulfillment risks; integrating our technology
platforms; managing refund risks; retaining our executive team;
litigation; compliance with domestic and foreign laws and regulations,
including the CARD Act and regulation of the Internet and e-commerce;
tax liabilities; tax legislation; maintaining our information technology
infrastructure; protecting our intellectual property; completing and
realizing the anticipated benefits from acquisitions, dispositions,
joint ventures and strategic investments; seasonality; payment-related
risks; customer and merchant fraud; global economic uncertainty; and our
ability to raise capital if necessary. For additional information
regarding these and other risks and uncertainties, we urge you to refer
to the factors included under the headings "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results
of Operations" in the company's Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, copies of which may be
obtained by visiting the company's Investor Relations web site at http://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 the company nor any other person
assumes responsibility for the accuracy and completeness of the
forward-looking statements. The forward-looking statements reflect
Groupon's expectations as of July 16, 2015. Groupon undertakes 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 its expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150716006437/en/
Groupon
Bill Roberts, 312-459-5191
billr@groupon.com
Source: Groupon
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