Groupon (GRPN) Partners ParkWhiz To Offer Convenient Parking

Groupon Inc. (NASDAQ:GRPN) recently inked a partnership with ParkWhiz that will provide its users facility to reserve convenient parking spots before reaching a particular destination.

ParkWhiz is an on-demand parking services startup.

With the integration of ParkWhiz’s services within the Groupon app, users will be able to explore and discover local businesses in their communities, simultaneously reserving and paying for a convenient parking spot. These services will be available across 150 cities including Chicago, San Francisco, New York as well as other mid-sized and large cities.

Collaborations Hold the Key

Prioritizing its ‘vision of building the daily habit in local’, the company is entering into strategic collaborations with companies like ParkWhiz and Comcast Corporation (NASDAQ:CMCSA). These deals are helping the company to enhance its product features, adding functionality to the application and enriching user experience.

These partnerships are helping Groupon to cater to just about any local need, thereby aiding the company to rapidly penetrate the market. This will eventually boost its top-line growth. Groupon aims to give its users a seamless experience on mobile and an opportunity to avoid parking hassles.

Notably, the company’s partnership with Grubhub allows customers order food from Grubhub’s partner restaurants on Groupon’s platform. This is another key revenue growth driver.

Moreover, the company has completed its integration with MasterCard and Visa as part of its Groupon+ product offering, thereby providing users with additional discounts. With the help of such deals, Groupon is able to delve deeper into the local community market, thus expanding its clientele.

The company’s strategy of offering special deals prior to important events like Thanksgiving and Christmas boosts its popularity. We also believe that Groupon To Go (which marks the company’s entry in the food delivery business) service will contribute to its growth.

Zacks Rank and Stocks to Consider

Groupon carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Internet-Commerce industry are Expedia, Inc. (NASDAQ:EXPE) , Facebook, Inc. (NASDAQ:FB) and Twitter, Inc. (NYSE:TWTR) , all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Expedia, Facebook and Twitter have a long-term expected earnings growth rate of 16.4%, 26.82% and 21.50%, respectively.

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