WASHINGTON — Online coupon service Groupon’s struggles are widely and publicly documented, but it looks like it is making a rebound effort.
Reuters reports that the company named its co-founder Eric Lefkofsky as its CEO and reported a record quarter for their North American business arm.
Lefkofksy was the interim CEO after he replaced co-founder Andrew Mason, who was let go this past February. Groupon shares rose 20% and saw revenue increase to $608.7 million this second-quarter.
Instead of focusing on short-term deals, Groupon has shifted to a traditional e-commerce business that specializes in selling long-term deals and most often through its mobile app.