Groupon Reveals Accounting Error by Erik Sass

Social buying juggernaut Groupon stumbled again last week with Friday's downward revision of its fourth-quarter revenue from $506.5 million to $492.2 million. While this is a relatively modest decrease of 2.8%, Groupon also revealed that its fourth-quarter loss was $22.6 million more than previously stated. Both errors were due to what auditor Ernst & Young described as a "material weakness in its internal controls," which somehow failed to factor in more refunds to customers, suggesting that the company's current accounting methods aren't able to keep up with its innovative business model. ...Read the whole story

  • Pinterest Leads Consumers From Pin To Purchase by Laurie Sullivan

    Marketers may soon add Pinterest into their attribution strategy. Studies have demonstrated the social site's ability to generate leads. Now a recent study suggests it prompts consumers to make purchases. Some 21% of respondents to a recent survey with a Pinterest account have purchased a product after seeing a picture on the site. ...Read the whole story

  • entertainment Etch A Sketch Capitalizes On Notoriety by Aaron Baar

    After finding itself at the center of a political controversy earlier this month, Ohio Art, maker of Etch A Sketch, has moved quickly to capitalize on having its name in the news by creating a social marketing program that ties directly to the controversy while encouraging voting. ...Read the whole story

  • sports NHL Fans To Choose EA Cover Athlete by Karl Greenberg

    The National Hockey League and Electronic Arts Inc. are partnering for a promotional campaign in which consumers' input will decide the cover of EA Sports' NHL digital game. ...Read the whole story

  • Facebook A Quiet Second-Screen Giant In Social TV Space? by Steve Smith

    As social TV evolves on devices, Facebook could become an important player in hosting second-screen experiences for audiences in a number of ways. Programmers need to partner widely in the space, says Informa in a new report. ...Read the whole story

Captain Morgan Blasts Onto Mobile With A Pirate Social Game Worth Playing by Steve Smith

Most advergames still just plain suck. But in one of its first forays into mobile, the Captain Morgan brand out maneuvers a lot of others who have been trying to game-ify their mobile relationship to consumers. Play on, Captain. ...More