A few selections from Groupon’s Q3 2015 earnings call*:

 In Blog

As you may have seen in our earlier release, this is my final call as CEO, as I hand the reins over to Rich Williams. When I became CEO two and a half years ago, I hoped a day would come when the foundation of the business would be solid enough for me to return to my role as Chairman and that the Board and I would find the right person to take over. That day is here.

Let me start with Rich. Having served as our Chief Marketing Officer, President of North America and — most recently — our Global Chief Operating Officer, Rich has proven to be a tremendous operator. But more importantly, he’s also a dynamic leader with great strategic insight. I’ve worked alongside Rich for years, and there is no one I would rather have replace me today.

In 2013, our business was facing huge obstacles from years of rapid and fragmented international expansion and a reliance on an eroding email business. To surmount these obstacles, and ultimately thrive, we needed to completely transform the business and build a local commerce marketplace.

Over the past few years, we’ve accomplished a great deal. Our marketplace is now at scale, as search accounts for nearly 1/3 of our North American business and we have nearly 570,000 deals live on our site, up from just a thousand when we went public.

We’ve also invested heavily in mobile and as a result well over 55% of our business comes from the over 115 million people that have downloaded our apps.

Our mobile and marketplace efforts have allowed us to grow by more than 32% from the $2.3 billion in Revenue we had when I took over two and a half years ago while simultaneously increasing Adjusted EBITDA and free cash flow. On a trailing twelve-month basis, we generated $3.1 billion in revenue, $1.4 billion in gross profit, $283 million in adjusted EBITDA and $228 million in free cash flow.

The foundation of our business is stronger than it has been in years, due to the tremendous effort and hard work of the over 10,000 people that make Groupon so much more than just a company.

We’ve worked hard to transform the business, and are now ready to take our next big step. As such, now is the right time for me to step away from my operating role, and let Rich lead us during this next stage.

*This excerpt contains forward looking statements. Groupon’s earnings materials, including a message on the use of forward looking statements, are available at www.groupon.com under the heading “Investor Relations.”

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