CHICAGO -- Groupon, Inc. (GRPN) today announced financial results for the quarter ended June 30, 2016.

 

“We continued to see strong traction in customer acquisition as we added more than 1 million new customers -- the most in more than two years,” said CEO Rich Williams. “We’re excited with the progress of our marketing programs to date and their effectiveness in introducing millions more people to our marketplace.”

 

Second Quarter 2016 Summary

Gross Billings were $1.49 billion in the second quarter 2016, down 2% from $1.53 billion in the second quarter 2015, with no significant impact of changes in foreign exchange rates. Our gross billings were impacted by dispositions and country exits in connection with our restructuring. On a same-country basis, gross billings increased 1% year-over-year. North America gross billings increased 8%, reflecting the early contribution of new active customer cohorts, while EMEA declined by 12% and Rest of World declined by 27%. Excluding the impact of changes in foreign exchange rates, Rest of World declined 21%, and there was no significant impact to North America or EMEA. Gross billings reflect the total dollar value of customer purchases of goods and services.

BASKING RIDGE, N.J., and SUNNYVALE, Calif., July 25, 2016 -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (YHOO) today announce they have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments.

 

Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of their data, content and technology.

 

Lowell McAdam, Verizon Chairman and CEO, said: "Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising."

Adds more than $320 million of annual digital revenue

 

MCLEAN, Va. & WOODLAND HILLS, Calif.--- Gannett Co., Inc. (GCI) and ReachLocal, Inc. (RLOC) announced today the execution of a definitive merger agreement whereby Gannett would acquire the outstanding shares of ReachLocal, Inc., for $4.60 per share in cash, via a tender offer. This represents a 188% premium to the unaffected closing price on Friday, June 24, 2016, and a total enterprise value of approximately $156 million. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to be completed in the third quarter of 2016. Gannett expects this transaction to be approximately neutral to earnings per share in its first full year and modestly accretive in its second full year.

HANGZHOU, China, June 23, 2016  -- Sky-mobi Limited ("Sky-mobi" or the "Company") (MOBI), a mobile application platform and game publisher in China, today announced that its board of directors (the "Board") has received a non-binding proposal letter, dated the date hereof, from Mr. Michael Tao Song, chairman and chief executive officer of Sky-mobi, Xplane Limited and Mobi Joy Limited (collectively, the "Buyer Group"), proposing a "going-private" transaction (the "Transaction") to acquire all of the outstanding common shares of Sky-mobi not already owned by the Buyer Group for US$2.10 in cash per American depositary share ("ADS"), each representing eight common shares. The proposed purchase price represents a premium of approximately 19.3% to the closing trading price of the Company's ADSs on June 22, 2016, the last trading day prior to the date hereof.  According to the proposal letter, the Buyer Group intends to fund the consideration payable in the Transaction with debt and/or equity capital. A copy of the proposal letter is attached as Exhibit A to this press release.

 

The Buyer Group beneficially owns an aggregate of approximately 54.3% of the Company's issued and outstanding common shares.