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by danso 3525 days ago
> The amount of the purchase isn’t material, and the transaction should close next month, Groupon said Wednesday in a statement. Amazon.com Inc.-backed LivingSocial had cut more than half its workforce in March, part of a downward spiral from the headier days of 2011, when it was valued at $6 billion in a funding round.

For a company of Groupon's size ($3B annual revenue), that doesn't necessarily mean that it was free, right?
2 comments
ChuckMcM 3525 days ago
No, it explicitly means that it won't change the guidance the company has given regarding future performance (it won't get materially more revenue, it won't incur materially more costs). There is a much better explanation of what it means on Wikipedia (https://en.wikipedia.org/wiki/Materiality_(auditing))
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ghaff 3525 days ago
No. I would guess that it means it could be in 10s of million $ range. (Maybe that much but given Groupon losses probably an upper bound.)
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