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Groupon CEO Rich Williams Tells Cramer The 'Old Paper Voucher Experience' Is Over

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Groupon CEO Rich Williams Tells Cramer The 'Old Paper Voucher Experience' Is Over

Groupon Inc (NASDAQ: GRPN) impressed investors with its second-quarter earnings report and encouraging outlook, but the company is just getting started on a long-term plan that places a huge focus on mobile.

During Groupon's second quarter, billings growth improved from 7 percent in the first quarter to 14 percent and close to two-thirds of all transactions were mobile, Groupon CEO Rich Williams told CNBC's Jim Cramer on Wednesday's edition of "Mad Money." This demonstrates that the transition to mobile has been "profound" and the company's era of offering an "old paper voucher experience" is coming to an end.

At the same time, Groupon isn't losing focus on its core objective of offering consumers a "seamless savings experience," he told Cramer. The company is moving into new verticals that fulfills its objective, including bookings platforms for businesses such as "Beauty Now" that also connects with consumers.

For instance, Groupon is working with partners in which a business, for instance a beauty salon, offers a deal to consumers. When a consumer buys the service offered, they will also be able to book an appointment without the need to reach out to the business.

"That's where the local experience should be, and we're excited about Beauty Now and booking in general on our platform as a way to help bring it there," Williams said.

Groupon shares are up about 28 percent this year.

Related Links:

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Image: Rusty Clark ~ 100K Photos, Flickr

Posted-In: Beauty Groupon Mad Money Rich Williams Jim CramerEarnings News Media Best of Benzinga

 

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