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    Spanish group buying site Groupalia ends the year on a high, busting all its targets

    Mike Butcher

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    Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → Learn More

    Thursday, December 23rd, 2010
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    Groupalia, a Spanish group buying site, has announced $3 million in revenues for December alone with the numbers of users now standing at 4 million across the six countries where it operates (Spain, Italy, Brazil, Mexico, Argentina and Chile).

    Previously its stated goals for 2010 was to attract 2 million users and reach turnover of 5 million euros. But overall it’s closed 2010 with a turnover of $8 million. It started operating just 8 months ago.

    It recently raised a funding round last October.

    That was its second institutional round of 5 million euro, after securing 2.5 million euros back in May, again from Nauta Capital, and Caixa Capital Risc, Spanish bank la Caixa’s venture capital division. Previous angel investors also participated in the round, namely Groupalia CEO Joaquin Engel in tandem with Lucas Carné and Jose Manuel Villanueva (the founders of Privalia, another Nauta portfolio company).

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    • Janos P Toth

      Nice trick of setting the targets in euros and reaching it in dollars. $8m is €6m, which is still a nice 20% above target, but a bit less busting than it looks like.

    • http://loogic.com/groupealo-y-groupalia-en-el-iphone/ Groupealo y Groupalia en el iPhone Loogic.com

      [...] en España, que no es Groupon, estaba facturando medio millón de euros al mes. La cifra de los tres millones de dólares de facturación mensuales de Groupalia me podría parecer dudosa de no conocer el dato que os acabo de dar del cual confio [...]

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    • http://twitter.com/PollPolPolls Apollo

      I think this is still good news “Previously its stated goals for 2010 was to attract 2 million users and reach turnover of 5 million euros. But overall it’s closed 2010 with a turnover of $8 million. It started operating just 8 months ago” whatever happens, I hope its for the good of everyone. 

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