Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Groupon, Inc. (GRPN) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Groupon, Inc. (GRPN) - free report >>
Image: Bigstock
Groupon's (GRPN) OrderUp Partners Qdoba Mexican Eats
Groupon, Inc. (GRPN - Free Report) shares were up about 3.08% in yesterday’s trading session after the company revealed its plans to expand OrderUp, its on-demand food delivery service. OrderUp has formed an alliance with U.S.-based Qdoba Mexican Eats. As a part of this alliance, Qdoba will leverage OrderUp’s delivery network.
Per the deal, through OrderUp, customers in as many as 40 markets will be able to place orders from Qdoba (at 675 locations) and get it delivered at their doorstep. The two entities have already started the service in a few markets like Baltimore, Charlottesville, Cincinnati, Indianapolis, Nashville and Richmond and it’s expected to be rolled out to other regions in the near future.
As Groupon puts it “We’re thrilled to partner with Qdoba and provide them with the scale and end-to-end ordering and delivery capabilities they need to reach new customers.”
Groupon had acquired OrderUp in 2015 for approximately $69 million. In Mar 2016, the company had expanded OrderUp to offer services in Pittsburgh and even collaborated with institutions like University of Pittsburgh, Duquesne University, Carnegie Mellon University and Chatham University in the region for delivery services.
Since the beginning of this year, Groupon has been undergoing a business transition under CEO Rich Williams. The daily deals company is now striving to redefine itself as a local marketplace. Meanwhile, expanding its food delivery business will not only diversify its revenues but also significantly boost its local business.
On the other hand, Qdoba will likely benefit from Groupon’s strong local customer base.
Groupon carries a Zacks Rank #3 (Hold). Better-ranked stocks in the sector include Internap Corporation , Atlassian Corporation Plc (TEAM - Free Report) and Castlight Health, Inc. (CSLT - Free Report) , each carrying a Zacks Rank #2 (Buy).
GROUPON INC Price and Consensus
GROUPON INC Price and Consensus | GROUPON INC Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>