groupon

Tech news from around the web:

Social shopping group Groupon is poised to roll out a new product called Groupon Rewards that aims to give participating retailers a way to increase customer loyalty, according to TechCrunch. Under the scheme, a business offering a regular Groupon deal will be able to follow up with another reward that gets unlocked after the customer spends a certain amount of money. The scheme will be open to retailers this week with consumers starting to see the rewards in October.

With speculation mounting over the imminent launch of the iPhone5 on October 4, TUAW looks at the fate of two of Apple’s older products, the iPod Classic and Shuffle, warning that the models face the axe later on this year. Read more

Tech news from around the web:

Amazon.com is testing an in-store pick-up service in a partnership with 7-Eleven, according to Geekwire. A delivery locker, currently being tested in Seattle, would allow customers to pick up their packages at the stores.

Chicago-based National Louis University will offer a Groupon for nearly 60% off tuition for its entry-level graduate teaching course, Mashable says. The deal, set to go live on Tuesday and will be open to up to 25 buyers, will discount the cost of the course from $2,232 to $950. Read more

Tech news from around the web:

Blogging service Tumblr is set to raise $75m-$100m in venture capital, The Wall Street Journal reports. The fundraising, which is said to include Facebook and Groupon investor Gerylock Capital, is expected to value the company at $800m. Read more

Richard Waters

By dropping its controversial method of conjuring up profits from losses after a review by the SEC, Groupon has cleared one of the distractions around its forthcoming IPO. Now, investors can focus on the things that really matter: whether its customers like what they are getting enough to keep coming back for more, and how well its model will perform in an economic downturn. Read more

Tech news from around the web:

The iPhone is number one in global smartphone shipment in the second quarter of 2011, according to the International Data Corporation’s Worldwide Quarterly Mobile Phone Tracker. Vendors shipped 106.5 million units in the second quarter of 2011, up from 64.4 million units in the same quarter of 2010. Read more

Next Monday, when Groupon sends out its latest cutely-worded deal offerings for sushi and pedicures, in the mix will also be a virtual product: an exclusive audio download of David Gray’s live concert album, Lost and Found – Live in Dublin 2011Read more

Tech news from around the web:

Groupon has  added new information to the risk section of its IPO filing, Reuters reports, telling prospective investors to ignore comments made by co-founder Eric Lefkofsky. A few days after its original IPO filing, Bloomberg News quoted Lefkofsky saying that: “Groupon was going to be wildly profitable,” the company said. In its updated filing, Groupon said:

The reported statement does not accurately or completely reflect Mr Lefkofsky’s views and should not be considered by prospective investors in isolation or at all

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Tim Bradshaw

Groupon’s swift international expansion has been “critical” to its vertiginous growth rate. In the first quarter of 2011, 54 per cent of its revenue came from outside the US.

Maintaining that growth will be a vital part of its pitch to potential investors ahead of its initial public offering.

A trio of German internet entrepreneurs have played a key role for Groupon overseas: the Samwer brothers. Read more

Tim Bradshaw

Groupon is going realtime in a big way, Andrew Mason, the local e-commerce site’s founder and chief executive, told the e-G8 conference, an exclusive gathering of tech giants and policymakers in Paris. Read more

Tech news from around the web:

  • Nintendo is set to release a  successor to the Wii games console, according to Game Informer. The console, which could be launched at E3 trade conference in California this summer, will be capable of running games at a high-definition resolution.

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