The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
A deal for Gap apparel sold 441,000 vouchers.
Groupon, which offers daily deals on food and entertainment in major cities, yesterday featured its first-ever nationwide promotion. The offering, which was for $50 in Gap merchandise for $25, sold more than 441,000 vouchers in a single day, Groupon says.
The vouchers are redeemable only at the retailer’s bricks-and-mortar locations.
The rush of traffic crashed Groupon.com’s servers for a period yesterday morning, and caused credit card processing delays that will prevent some consumers from accessing their Gap vouchers until Monday, Groupon says. Gap is No. 23 in the Internet Retailer Top 500 Guide.
To handle the onslaught of questions about the promotion, Groupon posted a frequently asked questions section on its site.
The deal far outpaced Groupon’s previous biggest seller. Before yesterday, Groupon’s record was nearly 19,000 sales for an architectural tour of Chicago.
Throughout the past few months Groupon has been aggressively expanding its reach. Earlier this week it acquired a majority stake in the Japanese daily deal site Qpod and the similar Russian site Darberry. And it bought a European competitor in May.