Today, Groupon
(NASDAQ: GRPN), the global marketplace for local services, experiences
and goods, announced a U.S. distribution partnership with GasBuddy, the
company that helps consumers avoid paying full price for fuel. Under the
terms of the deal, Groupon will provide GasBuddy with local food and
drink merchants’ card-linked offers content. Consumers will be able to
load offers directly to an eligible payment card after an easy opt-in
enrollment in the GasBuddy app. Once customers visit businesses with
these offers and pay with their enrolled card, they’ll receive GasBuddy
GasBack redeemable for free gas at 95 percent of gas stations across the
United States through the Pay
with GasBuddy program.
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Groupon, the global marketplace for local services, experiences and goods, and GasBuddy, the company that helps consumers avoid paying full price for fuel, announced a U.S. distribution partnership where Groupon will provide GasBuddy with local food and drink merchants’ card-linked offers content. (Photo: Business Wire)
“Partnering with GasBuddy makes perfect sense for us given our shared
value proposition of convenience and savings in your local community,”
said Groupon’s Chief Product Officer Sarah Butterfass. “Nearly 20
percent of all U.S. internet users come to Groupon every month.* While
that’s an impressive number, we also recognize our potential as a
distribution platform as well as the value of connecting with consumers
outside of our ecosystem.”
Card-linked offers are an important part of Groupon’s voucherless
strategy, which is aimed at enhancing the customer experience and
increasing conversion. During the first quarter, Groupon increased
voucherless inventory by more than 20 percent quarter-over-quarter as
more and more of its business became card-linked, bookable or ticketed.
“GasBuddy’s goal is to give away more free gas in the United States and
Canada than any other company,” said Sarah McCrary, CEO of GasBuddy.
“Consumers value gasoline as a currency more than cash itself, and by
adding local restaurants, coffee shops and other food and drink
businesses, GasBuddy is giving consumers more ways to earn GasBack than
anyone else.”
The Groupon and GasBuddy partnership is expected to go live in the
second half of the year.
*Source: Comscore Media Metrix® Multi-Platform, Percent
Reach, Total Audience, April 2019, U.S.
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. Such
risks and uncertainties include, but are not limited to, risk related to
volatility in our operating results; execution of our business and
marketing strategies; retaining existing customers and adding new
customers; challenges arising from our international operations,
including fluctuations in currency exchange rates, legal and regulatory
developments and any potential adverse impact from the United Kingdom’s
likely exit from the European Union; retaining and adding high quality
merchants; our voucherless offerings; cybersecurity breaches; reliance
on cloud-based computing platforms; competing successfully in our
industry; changes to merchant payment terms; providing a strong mobile
experience for our customers; maintaining our information technology
infrastructure; delivery and routing of our emails; claims related to
product and service offerings; managing inventory and order fulfillment
risks; litigation; managing refund risks; retaining and attracting
members of our executive team; completing and realizing the anticipated
benefits from acquisitions, dispositions, joint ventures and strategic
investments; lack of control over minority investments; tax liabilities;
tax legislation; 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;
protecting our intellectual property; maintaining a strong brand;
customer and merchant fraud; payment-related risks; our ability to raise
capital if necessary and our outstanding indebtedness, including
refinancing our credit facility; global economic uncertainty; our common
stock, including volatility in our stock price; our convertible senior
notes; and our ability to realize the anticipated benefits from the
hedge and warrant transactions. 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 our Annual Report on Form 10-K for the year ended
December 31, 2018, and Quarterly Reports on Form 10-Q and our other
filings with the Securities and Exchange Commission, copies of which may
be obtained by visiting the company’s Investor Relations web site at
investor.groupon.com or the SEC’s website 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 June 12, 2019. 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.
About GasBuddy
GasBuddy is a company that connects drivers with their Perfect Pit Stop.
As the leading source for crowdsourced, real-time fuel prices at more
than 150,000 gas station convenience stores in the U.S., Canada and
Australia, millions of drivers use the GasBuddy app and website every
day to find gas station convenience stores based on fuel prices,
location and ratings/reviews. GasBuddy’s first-of-its-kind fuel savings
program, Pay with GasBuddy, has saved Americans more than $6 million at
the pumps since its launch in 2017. The company’s business solutions
suite, GasBuddy Business Pages, provides Fuel Marketers and Retailers
their best opportunity to maintain their station information, manage
their brand, and promote to their target consumer audience. For more
information, visit http://www.gasbuddy.com.
About Groupon
Groupon (NASDAQ: GRPN) is building the daily habit in local commerce,
offering a vast mobile and online marketplace where people discover and
save on amazing things to do, see, eat and buy. By enabling real-time
commerce across local businesses, travel destinations, consumer products
and live events, shoppers can find the best a city has to offer.
Groupon is redefining how small businesses attract and retain customers
by providing them with customizable and scalable marketing tools and
services to profitably grow their businesses.
To download Groupon’s top-rated mobile apps, visit www.groupon.com/mobile.
To search for great deals or subscribe to Groupon emails, visit www.groupon.com.
To learn more about the company’s merchant solutions and how to work
with Groupon, visit www.groupon.com/merchant.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190612005510/en/