Much-hyped discount website Groupon suffered growing losses during the first half of the year.
The company posted a loss of $102.7 million during the period – a significant increase on the $36.8 million it lost during the same period last year.
Meanwhile the number of merchants in North America who want to do business with Groupon fell during the second quarter of the year as its competitors grew.
Groupon has said that it intends to carry out a $750 billion floatation during September, but many analysts have suggested this is unlikely to happen.
Groupon’s business model has been repeatedly called into question, with some suggesting that it is intrinsically too expensive to run profitably.
Meanwhile some firms offering discounts have complained about their treatment by the company.
Read more on Groupon and your small business.
