Groupon named Eric Lefkofsky, a co-founder who ousted Andrew Mason as chief executive officer in February, as permanent CEO of the largest daily deals website.
The Chicago-based company announced the new CEO in its earnings release for the second quarter, reporting a 7.1 percent rise in sales to $608.7 million and a smaller-than-projected net loss of $7.57 million, or 1 cent a share. Groupon rose 21 percent in extended trading, to $10.55.
Groupon, which lost 87 percent of its value in the year after going public in November 2011, has rallied this year as Lefkofsky and Ted Leonsis, who were interim co-CEOs, seek new areas of growth, including deals sold via sold via smartphones and tablets. Lefkofsky is also the company’s largest shareholder, with a 17 percent stake.