ShortFormBlog: Groupon restates its 2010 revenues … by more than half
jryu:
- $713.4 million the amount Groupon originally stated as its 2010 revenues
- $312.9 million the amount the company changed that to today … damn source
» How does one misstate $400 million in revenues? Good question! Let’s ask the COO, Margo Georgiadis, what she thinks happened. Oh…
from wsj: On Friday, Groupon said it would change what it books as revenue after discussions with the Securities and Exchange Commission. It will now only count as revenue its commission on sales, rather than the total value of an online coupon. Previously, when it sold a restaurant gift certificate for $10, for instance, it would book the full amount, even though a portion went to the business owner.
(Source: shortformblog)
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jryu reblogged this from shortformblog and added:
from wsj: On Friday,...said it would change...it books as...
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idroolinmysleep said:
“Evolving strategic priorities” = “we’re making it up as we go along.”
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