Group purchase website continued to burn 8 million 200 thousand a quarter net loss of rice

May 15th morning news, group purchase website since last year continued to face difficulties, handle network, Wo Wo Group IPO in delayed gradually after the silence, and backed by a listed company to everyone glutinous rice also continued losses, according to all the results for the first quarter, glutinous rice net first quarter loss of $8 million 200 thousand, although a quarter loss narrowed, but the amount of the loss is still great.

according to all earnings information disclosure, the annual cost of glutinous rice net is $300 thousand, operating expenses were $10 million 400 thousand, and revenue of $2 million 500 thousand, which means that the rice net first quarter loss of $8 million 200 thousand. In the first quarter of this loss figure was $9 million 630 thousand, although the loss of glutinous rice network chain decreased, but still face huge losses.

first quarter revenue of $32 million 100 thousand, representing an increase of 56.1% over the same period last year, a net loss of $13 million 600 thousand, compared with the same period last year, a net loss of $2 million 600 thousand, an increase of $423%. The increase in costs and operating expenses, renren.com broadband investment, a new explanation for the increase in the cost of the game, and the increase of rice network sales team and advertising and promotion expenses.

according to previous information, net revenues of four rice quarter of last year were $900 thousand, $1 million 100 thousand, $1 million 700 thousand, $2 million 700 thousand, corresponding to a net loss of $3 million 700 thousand, over $4 million 500 thousand, $6 million 541 thousand, $9 million 630 thousand, the annual loss amounted to $24 million 300 thousand.

see from the above information, last year, the group’s revenue is on the rise, but with the deterioration of the group buying industry, this revenue growth in the first quarter of 2012 has stagnated. Because of huge losses still exist, sticky rice also pulled down the overall profit of everyone.

had earlier Shen Boyang, general manager of glutinous rice network, said in an interview with the media, the localization of the service is the core competitiveness of the group, and now the domestic buy site for local services is far from being in place". By the end of last year, Shen Boyang also revealed that a single single day of the transformation of the Beijing Railway Station glutinous rice network has more than 14%. (Cui Xi)

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