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party like it's 1999

Did Groupon Really Take Home $760 Million in 2010?

A leaked memo from CEO Andrew Mason says that Groupon's revenue grew to $760 million last year, up from $33 million the previous year. Yes, $760 million sounds awfully close to that seemingly inflated $1 billion IPO they were hoping for. And yes, Mason softened us up with the Lord of the Rings reference, "If you feel a little like Frodo climbing Mount Doom, you can't be blamed." But keep in mind, investors recently valued the company at $4.75 billion, and half of whatever Groupon takes in from the daily deals it offers goes back to the local businesses. Then subtract the cost of hiring an army of talented copywriters and tracking down new local clients. Travel wise, young Frodos. [WSJ]

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Photo: Noah Berger/Bloomberg via Getty Images