Groupon waves goodbye to Greece and Turkey
31.08.2015 393 views
Groupon, a US ecommerce company, has ended its operations in Greece and Turkey.
The company made the decision to quit Turkey after its Turkish office could not meet financial expectations, newsweek,com reports citing the Turkish newspaper Hurriyet. The company entered the Turkish and Greek markets in 2010.
Groupon discontinued its operations in the two markets on 24 August, 24 2015. Launched in 2008, Groupon offers customers discounts through purchased coupons for restaurants, retail stores, spas, theatres and much more. By 2011, it was operating in more than 40 countries, and was for a time the fastest growing company in the world.
At the end of June, 2015 Greek banks shut after Prime Minister Alexis Tsipras imposed capital controls, limiting the amount of money people could withdraw from banks to EUR 60 euro (USD 66) a day, and preventing them from moving money abroad. The controls have recently been eased, after the government announced that people would be able to transfer up to EUR 500 euro (USD 570) out of the country, per month.
Source: The Paypers