Groupon CEO wants to 'double down' on local

Groupon CEO Rich Williams said Thursday the daily deals company is fighting for customers but not for its very survival.

While surging about 27 percent at the open on encouraging quarterly results and outlook, Groupon stock has lost about 80 percent of its value over the past five years.

Williams told "Squawk Box" it's time to "double down" on the core business of serving local companies and consumers.

"We're a leader in the space. There's a ton of room for innovation in local that we're pursuing and that we think has significant long term yet to be realized," Williams said.

He also stressed the importance of "making it ... really easy for merchants and small businesses to work on our platform and connect with customers."

Groupon late Wednesday posted a smaller-than-expected loss of a penny per share and higher-than-expected revenue. Analysts had expected a 2 cent loss.

The online marketplace also increased its 2016 revenue and earnings forecasts.

Williams cited various products and services as areas of focus, such as delivery and takeout, ticketing and health and beauty.

"We obviously watch the big platforms. You can't deny the scale and scope and the power in the big platforms like Google and Facebook," he added. "But we spend most of our time thinking about the customer ... [and] great offerings vertical by vertical."