Groupon and Prodege Announce Card-Linked Offers Distribution Partnership
CHICAGO--(BUSINESS WIRE)--Jul 9, 2019--
Today, Groupon (NASDAQ: GRPN), the global marketplace for local services, experiences and goods, announced a U.S. distribution partnership with Prodege, an internet and media company that is dedicated to creating rewarding moments for its members and has awarded them more than $700 million in cash and free gift cards. Under the terms of the deal, Groupon will provide Prodege with local restaurants and other merchants’ card-linked offer content. Prodege rewards program members will be able to load those offers directly onto an eligible payment card, and they’ll receive either cash back or valuable rewards points that they can redeem for gift cards from popular retailers.
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Groupon, the global marketplace for local services, experiences and goods, announced a U.S. distribution partnership with Prodege, an internet and media company that is dedicated to creating rewarding moments for its members and has awarded them more than $700 million in cash and free gift cards. (Photo: Business Wire)
“We’re thrilled to partner with Prodege to bring their members additional value. This distribution partnership follows the increased demand trend that we’ve seen for more white-labeled content that’s hyperlocal and seamless for consumers to use,” said Groupon’s Chief Product Officer Sarah Butterfass. “Card-linked offers are one of the many voucherless initiatives that are helping us build real inventory at scale and expand our reach beyond the one out of every five U.S. internet users that already come to Groupon every month.”*
Prodege operates four consumer rewards brands — MyPoints, ShopAtHome, Swagbucks and InboxDollars— which deliver engaging content and valuable rewards to more than 100 million members worldwide. Local merchant card-linked offers provided by Groupon will debut for Prodege’s MyPoints and ShopAtHome members with the potential to expand to other Prodege brands in the future.
“We’re excited to bring our rewards program members even more ways to find great deals and earn cash or rewards on dining out and other everyday purchases,” said Prodege's CEO and Chairman, Chuck Davis. “Adding Groupon’s selection of local restaurants, coffee shops and other food and drink businesses to our growing network of retailers gives our members even more opportunities to save.”
The new Groupon and Prodege partnership is expected to launch later this year.
*Source: Comscore Media Metrix ® Multi-Platform, Percent Reach, Total Audience, April 2019, U.S.
Note on Forward-Looking Statements
The statements contained in this release that refer to plans and expectations for the next quarter, the full year or the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations. The words "may," "will," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue" and other similar expressions are intended to identify forward-looking statements. We have based these forward looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, but are not limited to, risk related to volatility in our operating results; execution of our business and marketing strategies; retaining existing customers and adding new customers; challenges arising from our international operations, including fluctuations in currency exchange rates, legal and regulatory developments and any potential adverse impact from the United Kingdom's likely exit from the European Union; retaining and adding high quality merchants; our voucherless offerings; cybersecurity breaches; reliance on cloud-based computing platforms; competing successfully in our industry; changes to merchant payment terms; providing a strong mobile experience for our customers; maintaining our information technology infrastructure; delivery and routing of our emails; claims related to product and service offerings; managing inventory and order fulfillment risks; litigation; managing refund risks; retaining and attracting members of our executive team; completing and realizing the anticipated benefits from acquisitions, dispositions, joint ventures and strategic investments; lack of control over minority investments; tax liabilities; tax legislation; compliance with domestic and foreign laws and regulations, including the CARD Act, GDPR and regulation of the Internet and e-commerce; classification of our independent contractors; protecting our intellectual property; maintaining a strong brand; customer and merchant fraud; payment-related risks; our ability to raise capital if necessary and our outstanding indebtedness, including refinancing our credit facility; global economic uncertainty; our common stock, including volatility in our stock price; our convertible senior notes; and our ability to realize the anticipated benefits from the hedge and warrant transactions. For additional information regarding these and other risks and uncertainties, we urge you to refer to the factors included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2018, and Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission, copies of which may be obtained by visiting the company's Investor Relations web site at investor.groupon.com or the SEC's website at www.sec.gov. Groupon's actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance. You should not rely upon forward-looking statements as predictions of future events. Although Groupon believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither Groupon nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements reflect our expectations as of July 9, 2019. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
About Prodege, LLC
Prodege (pro-dé-gée) is an internet and media company that is dedicated to “creating rewarding moments” for its members by rewarding them with more than $700 million in cash and free gift cards since inception. Prodege is now comprised of four consumer brands — Swagbucks, MyPoints, ShopAtHome and InboxDollars— which deliver engaging content and valuable rewards to more than 100 million members worldwide. Prodege's complementary suite of business solutions helps brands boost engagement with consumers by making it easy to gather insights, listen to their audience and gain further exposure to drive brand loyalty. Visit http://www.prodege.com for more information.
Groupon (NASDAQ: GRPN) is building the daily habit in local commerce, offering a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat and buy. By enabling real-time commerce across local businesses, travel destinations, consumer products and live events, shoppers can find the best a city has to offer.
Groupon is redefining how small businesses attract and retain customers by providing them with customizable and scalable marketing tools and services to profitably grow their businesses.
To download Groupon's top-rated mobile apps, visit www.groupon.com/mobile. To search for great deals or subscribe to Groupon emails, visit www.groupon.com. To learn more about the company’s merchant solutions and how to work with Groupon, visit www.groupon.com/merchant.
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KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: WOMEN OTHER RETAIL WINE & SPIRITS MEN SPECIALTY CONVENIENCE STORE RESTAURANT/BAR INTERNET FOOD/BEVERAGE FASHION CONSUMER RETAIL MOBILE/WIRELESS TECHNOLOGY EVENTS/CONCERTS GENERAL ENTERTAINMENT ONLINE RETAIL LUXURY DISCOUNT/VARIETY DEPARTMENT STORES ENTERTAINMENT HOME GOODS
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PUB: 07/09/2019 09:29 AM/DISC: 07/09/2019 09:29 AM