Groupon CEO: Our deals are 'designed for mobile'
Groupon CEO Eric Lefkofsky told CNBC on Wednesday the deal company's mobile concentration continues to grow.
"In terms of large e-commerce companies, we're probably the most in terms of penetration in mobile or number of transactions in mobile as anybody," the company's co-founder said in a "Squawk Box" interview, "because Groupon is inherently local. You use it when you're out and about, exploring your local market."
"It's just designed for mobile," he continued. "It's just geo-centrically intelligent. It knows where you are and it creates a way ... through the power of a deal to explore a city."
Groupon is scheduled to release third quarter earnings on Nov. 7 after the closing bell on Wall Street. Following a string of better-than-expected results, the company is expected to report profits of 1 cent a share on revenues of $616 million, according to Thomson Reuters.
"Mobile has been the biggest story over the last few quarters," Lefkofsky said. "We had 7 million app downloads in Q1. We had 7.5 million in Q2. Our mobile concentration continues to grow."
He also said that the business has proven over time to be "more defensible" than people thought. "We were incredibly copied or cloned back in 2010. At one point, there were like 5,000 clones worldwide. It was probably one of the most copied business models of all-time."