Groupon Hit by Higher Expectations
Thursday, April 5, 2012 7:52
As Groupon, which went public amid great fanfare in November, looks to expand beyond half-price deals on $20 manicures and $50 sushi dinners into the realm of $2000 laser eye surgery and $1200 memory foam mattresses.
The company is now encountering new risks that are hitting its own bottom line. However, the company expect that higher ticket items would help create higher expectations. But the young online deals company admitted that it could not predict how many people would actually return these new high-priced deals and demand refunds.
Shares of the Groupon dropped, following the embarrassing restatement of its accounts, as the investors of the company in the field are not that optimistic and felf misled about the company’s financial results and business practices.
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