Groupon Sees 500 Percent Growth in Holiday Sales

A few weeks after its IPO, Groupon has seen some success as a public company, according to Reuters.

Investors have struggled substantially to determine whether they made a good choice putting their money into the young daily deals company, particularly after a quick decline similar to many of the other technology companies going public this year.

However, the company has not been all bad news, with chief executive officer Andrew Mason announcing the company had sold 650,000 holiday deals over the Black Friday weekend. that represents a 500 percent increase and potentially double the sales of similar deals by rival LivingSocial.

Meanwhile, MarketWatch reports the company has initiated a substantial shift in its approach to revenue growth, with a greater emphasis on marketing than on subscriber growth, which had been a major cost for the company that drew criticism in the lead up to its IPO.

The company’s stock has recovered somewhat from its recent lows, briefly rising above its $20-per-share IPO price on Friday, December 2. It quickly fell back below, but remained above its recent average.

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