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As Shayndi Rice of the Wall Street Journal reports, “Groupon Inc. went public on the promise of fast growth and future profits. But on Wednesday, some of those promises remained elusive. In its first major test since an initial public offering in November, the Chicago-based daily deals site reported revenue more than doubled to $506.5 million in the fourth quarter, strengthened by new products, holiday sales and a rise in the rate it takes from merchants.” However, “The company has yet to prove to investors that its business of offering coupons to local business is profitable. Groupon reported a loss of $37 million in the quarter, as the company continues to spend extravagantly to support its rapid growth.”

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