According to Henry Blodget – The reason Groupon should be able to build a healthy, growing, and profitable business is that, according to his estimates, its existing customers account for an ever-growing portion of its gross billings and revenue. Here’s gross billings. The dark blue is his estimate of billings-from-existing-customers.

But here's the good news... The reason Groupon should be able to build a healthy, growing, and profitable business is that, according to our estimates, its existing customers account for an ever-growing portion of its gross billings and revenue. Here's gross billings. The dark blue is our estimate of billings-from-existing-customers.

via GROUPON IN CHARTS: Latest Quarter Shows A Gangly Teenager Growing Into Profitable Adulthood.