Groupon Inc. Acquires Blink

Groupon Inc. (NASDAQ: GRPN), the operator of daily deals portal has acquired Blink, a mobile app that offers customers with deals for same day hotel bookings in Europe. The acquisition is an effort by the company to strengthen its travel business, Groupon getaways, as the company is making a strategic move away from solely being an online flash deals provider.  The Blink team, based out of Madrid in Spain, has over 2000 hotel partners across Europe and according to Groupon sources; this acquisition will boost the travel business of the company. The Blink app will enable users to buy great hotel deals in tourist destinations even though the bookings are made at the last minute. The acquisition will complement the current offerings from Groupon in the European market. The company currently offers all-inclusive travel packages to popular destinations in Europe. The app will operate independently and will complement the Groupon Getaways service which is currently available across 48 countries. This acquisition follows Groupon’s July launch of Groupon reserve, offering deals from premium brands, and the more recent warehouses acquisition in North America to shore up its physical goods business. The company has been making a steady effort to diversify its revenue sources and be less dependent on the flash deals business alone. The Groupon stock price lost 0.86% in yesterday’s trade closing the day at $11.19.

To see Groupon’s latest stock price movement, click here (NASDAQ: GRPN)

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Virendra Singh Chauhan Virendra Singh Chauhan   on Amigobulls :

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