Groupon Bounces on Deal to Increase Experiences Inventory
Investing.com
Published Aug 18, 2020 12:14PM ET
By Christiana Sciaudone
Investing.com -- Groupon (NASDAQ:GRPN) jumped 11% after announcing a partnership with Rezdy that should increase its experience inventory.
Rezdy, which operates a booking and distribution platform for tours, activities and attractions, is the first successful integration to the company’s recently launched API, Groupon Connect, that enables booking partners, reservation and ticketing platforms to directly connect their merchants to the Groupon platform.
The move provides attractions operators with more control over their promotions by giving them the ability to sync their existing Rezdy booking capabilities with Groupon inventory. The partnership increases yield management capabilities for operators and allows customers to easily redeem Groupons.
“By providing a seamless and simple way for third-parties to connect directly to Groupon, we can quickly increase the amount of high-quality, bookable global inventory that we can offer in our local experiences marketplace," said Tim Eby, vice president of product at Groupon.
Groupon reported results earlier this month that handily beat estimates. A loss per share of 93 cents compared to the expected loss of $2.75, and sales of $395.6 million bested the estimated $182.3 million.
The shares have two buy ratings, three holds and one sell.
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