Groupon to Deutsche Telekom: Help Us Churn More Merchants
The world’s largest daily deals company Groupon (NASDAQ:GRPN) and Deutsche Telekom will cooperate in the mobile internet business. Heikki Makijarvi, the executive responsible for new business development at Deutsche Telekom, said on Tuesday, “We will start some services and activities with Groupon in the coming months.”
Financial Times Deutschland also reported Deutsche Telekom’s projected goal is generation of revenues of 2-3 billion euros ($2.6-3.8 billion) in the field of online services with private customers in 2015.
Michael Shim, who is responsible for mobile marketing and partnerships at Groupon, said “For us, it’s an important step. It is the first time we are entering a cooperation with a wireless service provider.”
Here’s how Groupon shares are reacting to the news:
Groupon Inc (NASDAQ:GRPN): GRPN shares recently traded at $19.23, up $0.93, or 5.08%. They have traded in a 52-week range of $14.85 to $31.14. Volume today was 1,240,490 shares versus a 3-month average volume of 3,629,490 shares. The company’s trailing earnings are $-2.17 per share.
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