Reginal Thomas
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Groupon Misses Expectations but Adds A New Company To The Family

Groupon Inc. missed expectations for the third quarter today, due to higher costs and weakness in overseas markets. Shares have been strong for 2013, dropped in after hours trading as the company lowered its operating income expectations for the year. Groupon also announced that it agreed to buy a Korean e-commerce firm; Ticket Monster, for $260 million. In the deal Groupon will pay out $100 million in cash and another $160 million in Class A stock. The deal is expected to close in early 2014, this is a step up for Groupon because Ticket Monster was a unit of rival company; LivingSocial Inc.