Experiences marketplace Groupon (NASDAQ: GRPN) announced a partnership with Redeam––a global technology company that empowers the growth of tours, attractions and activities. The partnership enables Redeam’s supplier network to connect their existing booking, yield management and voucherless, mobile redemption capabilities to Groupon promotions––enabling them to reach new customers, sell more tickets and maximize revenue. For customers, the integration enables them to seamlessly find, book and redeem more of the top things to do in their city or wherever they may be.
“Partnering with Redeam has the potential to bring more high-quality, bookable local experiences onto our platform,” said Brian Fields, head of experiences for Groupon. “By integrating with their technology, we’re delivering more tools and capabilities for these merchants and operators to sell more tickets while delivering a great experience for our customers.”
Redeam works with hundreds of resellers and serves thousands of operators globally, including some of the world’s most sought-after attractions, theme parks, event venues, boat tours, museums and more. Its operators include brands like Walt Disney World, BigBus Tours, Boston Harbor Cruises, National Geographic Encounter: Ocean Odyssey and the Intrepid Sea, Air & Space Museum.
“Groupon’s focus on experiences makes it a force to be reckoned with in the tours, attractions and activities space,” said Redeam CEO and President Melanie Meador. “With nearly 44 million customers, a massive mobile footprint and a trusted brand, we’re thrilled to partner with them.”
The Groupon and Redeam partnership is expected to go live in Q2 2020.
Groupon (www.groupon.com) (NASDAQ: GRPN) is an experiences marketplace that brings people more ways to get the most out of their city or wherever they may be. By enabling real-time mobile commerce across local businesses, live events and travel destinations, Groupon helps people find and discover experiences––big and small, new and familiar––that make for a full, fun and rewarding life. Groupon helps local businesses grow and strengthen customer relationships––resulting in strong, vibrant communities. To learn more about Groupon’s community-building efforts, please visit community.groupon.com.
Redeam (www.redeam.com) Redeam is the only global technology company with an agnostic channel manager solution connecting Supply and Demand of the Experiences sector of travel. Redeam’s hardware and SaaS middleware solutions enable the seamless and automated passing of product and booking data back and forth between Operators and Distributors, thereby enabling the sale of more tickets, a better check-in process for guests, elimination of operational strain caused by too many manual processes or fraud, and improves payment reconciliation timelines. For its innovative solutions, Redeam has garnered over nine accolades and awards including PhocusWire’s Top 20 Start Up’s to Watch for 2019 and the 2018 Future Travel Experience Startup Competition Winner. The company works with hundreds of resellers and partners such as Google, Groupon, JetBlue Travel, and Expedia and serves thousands of attraction and activity operators globally like Walt Disney World, BigBus Tours, Boston Harbor Cruises, and the Intrepid Sea, Air & Space Museum.
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, our ability to execute, and achieve the expected benefits of our go-forward strategy, including our planned exit from the Goods business; volatility in our operating results; execution of our 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 exit from the European Union, retaining and adding high quality merchants; our reliance on email, internet search engines and mobile application marketplaces to drive traffic to our marketplace; cybersecurity breaches; reliance on cloud-based computing platforms; competing successfully in our industry; providing a strong mobile experience for our customers; maintaining and improving our information technology infrastructure; our voucherless offerings; 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; 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; tax liabilities; tax legislation; 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; 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 the company’s Annual Report on Form 10-K for the year ended December 31, 2019, 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 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.