Photo: Dan Frommer, Business Insider
Groupon did $760 million in revenue last year, up from $33 million the year before, according to a memo CEO Andrew Mason sent out to his troops, which was picked up by the Wall Street Journal.Mason says the company is aiming for billions this year.
For some context, the nearest competitor to Groupon, LivingSocial says it will do $500 million in revenue this year.
Mason told employees in his memo, “By this time next year, we will either be on our way to becoming one of the great technology brands that define our generation, or a cool idea by people who were out executed and out innovated by others that were smarter and harder working.”
Other details from the memo:
- Groupon generated 1/3 of its revenue from international markets.
- It has 51 million subscribers, and hopes to get to 150 million by year end.
- It wants $1 billion in revenue from new products this year.
- It employs 4,000 people, and is in 565 cities.