Group-buying websites will help amazon $56 million capital injection

Beijing time on April 27, according to foreign media reports, the amazon five with the securities and exchange commission (SEC), according to documents submitted by 10 – Q, the second largest group-buying websites will help still faces challenges in the market. The first quarter of this year, will help on revenue of $135 million, up 23%; But a net loss of $50 million, less than the same period last year net profit of $156 million.

this file also shows that the amazon lead the big shareholders earlier this year to help a $110 million capital injection. The amazon to the group-buying capital injection of $56 million.

will help in the first quarter operating loss of $44 million, down to half a year ago. The Washington Business daily (Washington Business Journal) quoted sources as saying that help has put its operating cash burn rate fell to millions of us dollars, and this trend will continue. Help has been trying to cut spending. Last November, will help cut 10%, equivalent to 400 jobs.

the amazon in the 10 – Q document stressed that the company currently owns a 29% stake in help around. Will help in the first quarter of losses, give amazon performance brought the negative effect of $17 million.

team-buying market’s current situation is not optimistic. The first big group company in February this year earnings in the fourth quarter of 2012 released by the company’s quarterly loss more than market expectations, and the founder and chief executive Andrew Mason (Andrew Mason) departure due to poor performance. Its current development direction is to transformation into a more local business providers.

gen do help before and after in 2007, over the past six years has raised $918 million in cash. Although valuations will help appeared a huge shrink, but investors still hope to maintain existing help operations, rather than let it fail. Help chief executive Tim o shaughnessy (Tim OShaughnessy) in February has said that the latest round of financing for the company’s valuation of just $1.5 billion, well below the size of the last round of financing. But that did not urgent debt capital injection, at least will investors to invest in the company.

source: tencent technology