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While Groupon is pleased with its growth in the U.S., at 66 percent year-over-year, Mr. Mason said Europe is “far under-penetrated.” But the companies problems go beyond the financial crisis over there. Groupon admitted it needs to do a better job of promoting relevant deals to Europeans through deal personalization.

“We believe we are not totally dependent on a macroeconomic turnaround in Europe to improve our performance there,” Mr. Mason said. “The mix of deals we feature can have a substance effect on our performance. We have found these more discretionary offers are more susceptible to negative growth.”

Groupon is optimistic about the European market.

The company is also excited about its opportunities in mobile. “We’re quickly becoming one of the largest mobile e-commerce companies out there,” Mr. Mason said.