- On average how long does it take Groupon to pay merchants for coupons sold during 2010? (Hint: Turnover = Cost of Revenue/Avg accrued merchant payable)
\fExhibit 2 GROUPDN, INC. CDHSDIJDATED STATEMENTS OF OPERATIONS {in thousands. empt share and per share amounts] 'i'eu' Ended December 31. 3003 mm mm Revenue $ 94 S 30.4\" $ 2' [3365 Cost of revenue 39 19.542 433.41] Gross prot 5 10.929 2?9,954 Operating expenses: Marketing 153 4,548 263 .202 Selling, general and administrative ] 34 7 .458 233.913 Acquisition-related 203.l83 Total operating expenses 1,637 12.006 130393 Loss from operations (1.632) (1,07?) (420,344) Interest and other income (expense). net 90 (16} 284 Loss before provision for income taxes (I .542} (1,093} [420,060] Provision (benefit) t'm income taxes 243 (6,614} Net loss H.542) (1,34l} (413,386) Less: Net loss attributable to noncontrolling interests 23.746 Net loss attributable to Groupon, Inc. (1.542} (1.34\" {339.640} Dividends on preferred stock (21"?) (S ,575} {l ,362} Redemption of preferred stock in excess of carrying value (52,393} Adjustment of redeemable noncontrolling interests to redemption value \"2.425) Preferred stock distributions (339) _ _ Net loss attributable to common stockholders 5 (2.153) $ (6.916} S (456,320) Exhibit 3 Year Ended December 31, GROUFDN, INC. CDNSDIJDATED STATEMENTS OF CASH FLOWS {in thousands) ems Operating activities Net loss Adjustments to reconcile net loss to net cash provided by {used in} operating activities: Depreciation and amortization Stock-based compensation Deferred income taxes Excess tax benet on stock-based compensation Non-cash interest expense Acquisition-related expense Change in assets and liabilities, net of acquisitions: Accounts receivable Prepaid expenses and other current assets Accounts payable Accmed merchant payable Accrued expenses and other cun'ent liabilities Due to related parties Other Net cash (used in] provided by operating activities Investing activities Purchases of property and equipment Acquisitions of businesses. net of acquired cash Purchases of intangible assets Changes in restricted cash Net. cash used in investing activities Financing actlvlties issuancc of stock, net of issuancc costs Excess tax benet on stockbased compensation Loans from related parties Preferred stock distributions Repurchase of common stock Proceeds from exercise of stock options Dividends paid on common and preferred stock Redemption of preferred stock Net cash provided by nancing activities Elfect ol'excltange rate changes on cash and cash equivalents Net increase in cash and cash equivalents Cash and cash equivalents. beginning of year Cash and cash equivalents. end of year 2009 mm Stljd-Z) $ 0,344} $[41313363 (4} (3} (IR) H.526} (l9) {l9} 4,?46 (339) 1 4,403 2.863 103 80 115 (143) (501} (57} 182 4,305 5,033 (20} {33} 7.5 It) (290i (2?1) (taco) \".96\" 29 .946 143 72. {26.363} 3.?93 9.347 2.966 5 2.966 5 12.313 12.952 36.168 (7.349) (32) 106 203,l33 (34,905) (2%?) 50,835 149,044 94,592 (319) (1,531) 86,385 (14531) 3l6 (922) (92) (11,379) 534,653 32 5,035 (503.113) 195 (1 12.99) (55.003) 30.445 1.069 l06.52 12.313 95 \"3.333
