CHICAGO--(BUSINESS WIRE)--Today, Groupon (NASDAQ: GRPN), the global marketplace for local services, experiences and goods, announced a U.S. distribution partnership with GasBuddy, the company that helps consumers avoid paying full price for fuel. Under the terms of the deal, Groupon will provide GasBuddy with local food and drink merchants’ card-linked offers content. Consumers will be able to load offers directly to an eligible payment card after an easy opt-in enrollment in the GasBuddy app. Once customers visit businesses with these offers and pay with their enrolled card, they’ll receive GasBuddy GasBack redeemable for free gas at 95 percent of gas stations across the United States through the Pay with GasBuddy program.
“Partnering with GasBuddy makes perfect sense for us given our shared value proposition of convenience and savings in your local community,” said Groupon’s Chief Product Officer Sarah Butterfass. “Nearly 20 percent of all U.S. internet users come to Groupon every month.* While that’s an impressive number, we also recognize our potential as a distribution platform as well as the value of connecting with consumers outside of our ecosystem.”
Card-linked offers are an important part of Groupon’s voucherless strategy, which is aimed at enhancing the customer experience and increasing conversion. During the first quarter, Groupon increased voucherless inventory by more than 20 percent quarter-over-quarter as more and more of its business became card-linked, bookable or ticketed.
“GasBuddy’s goal is to give away more free gas in the United States and Canada than any other company,” said Sarah McCrary, CEO of GasBuddy. “Consumers value gasoline as a currency more than cash itself, and by adding local restaurants, coffee shops and other food and drink businesses, GasBuddy is giving consumers more ways to earn GasBack than anyone else."
The Groupon and GasBuddy partnership is expected to go live in the second half of the year.
*Source: Comscore Media Metrix® Multi-Platform, Percent Reach, Total Audience, April 2019, U.S.
Note on Forward-Looking Statements
The statements contained in this release that refer to plans and expectations for the next quarter, the full year or the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations. The words "may," "will," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue" and other similar expressions are intended to identify forward-looking statements. We have based these forward looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, but are not limited to, risk related to volatility in our operating results; execution of our business and marketing strategies; retaining existing customers and adding new customers; challenges arising from our international operations, including fluctuations in currency exchange rates, legal and regulatory developments and any potential adverse impact from the United Kingdom's likely exit from the European Union; retaining and adding high quality merchants; our voucherless offerings; cybersecurity breaches; reliance on cloud-based computing platforms; competing successfully in our industry; changes to merchant payment terms; providing a strong mobile experience for our customers; maintaining our information technology infrastructure; delivery and routing of our emails; claims related to product and service offerings; managing inventory and order fulfillment risks; litigation; managing refund risks; retaining and attracting members of our executive team; completing and realizing the anticipated benefits from acquisitions, dispositions, joint ventures and strategic investments; lack of control over minority investments; tax liabilities; tax legislation; compliance with domestic and foreign laws and regulations, including the CARD Act, GDPR and regulation of the Internet and e-commerce; classification of our independent contractors; protecting our intellectual property; maintaining a strong brand; customer and merchant fraud; payment-related risks; our ability to raise capital if necessary and our outstanding indebtedness, including refinancing our credit facility; global economic uncertainty; our common stock, including volatility in our stock price; our convertible senior notes; and our ability to realize the anticipated benefits from the hedge and warrant transactions. For additional information regarding these and other risks and uncertainties, we urge you to refer to the factors included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2018, and Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission, copies of which may be obtained by visiting the company's Investor Relations web site at investor.groupon.com or the SEC's website at www.sec.gov. Groupon's actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance. You should not rely upon forward-looking statements as predictions of future events. Although Groupon believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither Groupon nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements reflect our expectations as of June 12, 2019. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
GasBuddy is a company that connects drivers with their Perfect Pit Stop. As the leading source for crowdsourced, real-time fuel prices at more than 150,000 gas station convenience stores in the U.S., Canada and Australia, millions of drivers use the GasBuddy app and website every day to find gas station convenience stores based on fuel prices, location and ratings/reviews. GasBuddy’s first-of-its-kind fuel savings program, Pay with GasBuddy, has saved Americans more than $6 million at the pumps since its launch in 2017. The company’s business solutions suite, GasBuddy Business Pages, provides Fuel Marketers and Retailers their best opportunity to maintain their station information, manage their brand, and promote to their target consumer audience. For more information, visit http://www.gasbuddy.com.
Groupon (NASDAQ: GRPN) is building the daily habit in local commerce, offering a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat and buy. By enabling real-time commerce across local businesses, travel destinations, consumer products and live events, shoppers can find the best a city has to offer.
Groupon is redefining how small businesses attract and retain customers by providing them with customizable and scalable marketing tools and services to profitably grow their businesses.
To download Groupon's top-rated mobile apps, visit www.groupon.com/mobile. To search for great deals or subscribe to Groupon emails, visit www.groupon.com. To learn more about the company’s merchant solutions and how to work with Groupon, visit www.groupon.com/merchant.