Here are the highlights from the Groupon IPO filing:
* In 2010, Groupon’s revenues totaled $714 million, 2009′s revenue were $30.5 million.
* For the three months ended March 31, 2011, Groupon’s revenues grew to $644.7 million.
* The company is not profitable on a GAAP basis, losing $389.6 million in 2010 and a $113.9 million in the first quarter 2011.
* It spent $179.9 million for online marketing in the first quarter 2011 alone.
* It sold 30.3 million vouchers in 2010, and nearly the same amount, or 28.1 million, in the first quarter of 2011
*It has 83 million subscribers
* It has 56,000 featured merchants. (the potential is huge here)
* Cost of revenue as a percentage of revenue was 54.8% for 2010 and 58.1% for 2011. This means that Groupon kept 45.2% of a deal in 2010 on average and 41.9% in 2011. We fully anticipate for these margins to drop as more competition enters the industry such as Google, Facebook and other publishers.
The company’s stock structure has two classes.
Andrew Mason owns 23 million, or roughly 7.7 percent, of the Class A common stock; Chairman and co-founder Eric Lefkofsky owns 21.6 percent of the company, or 61.4 million shares.
Other large investors who own Class A shares include Silicon Valley’s Accel Ventures, which owns 5.6 percent, Maryland-based New Enterprise Associates, which owns 14.7 percent, and, interestingly, Germany’s Samwer brothers, who own 10.3 percent of the Class A shares.
Class B shares control the company, and those are owned by Mason, Lefkofsky and its third founder Brad Keywell.