Groupon Inc (NASDAQ:GRPN), the daily deals website, has seen far better days. Having lost 90 percent of its value from its IPO’s peak, the company seems to be fighting a losing battle as its shares continue to drop to new lows.

Groupon logo

The past few months have seen the company sink to deeper and deeper record lows on a regular basis and this week looks as though it may be Groupon’s toughest yet. The company’s stock has continued its downward trend since it released its latest quarterly earnings report last Friday.

The quarterly reports, which showed that the company had missed revenue and profit targets, did little to help boost investor confidences and sparked a drop in Groupon’s value. With the troubled companies shares falling more than 30 percent last week, this week looks as though it may be as bad, with Groupon today hitting a new rock bottom value of $2.63 per share.

Despite the dire fate Groupon Inc (NASDAQ:GRPN) seems to be facing now, it never used to be this bad.

When the company initially opened a year ago, it had done so with a comparatively heady share price of $28. In 2010, Groupon Inc (NASDAQ:GRPN) rejected Google Inc (NASDAQ:GOOG)’s offer to purchase it for $6 billion, which would have made history as Google’s second largest acquisition after its buy of Motorolla for $12.5 billion.

The company was rumored to be making $2 billion in revenues, which may cause CEO Andrew Mason some regret that he hadn’t cashed in on his brainchild while the getting was good.

Since then Groupon Inc (NASDAQ:GRPN) has faced a number of problems, ranging from intense criticism of its business model to the European debt crisis that has stunted its growth in Europe. In what looks like the company’s final death throes, it is struggling to bring itself back from the edge.

One strategy it is attempting to revive itself with, is the expansion into Groupon Goods, which is already accounting for a large portion of Groupon’s revenue growth. That, along with other incentives, such as free shipping and returns for items purchased through Groupon Inc (NASDAQ:GRPN) goods are hoped to breathe new life into Groupon; although whether this will be enough to save the company remains to be seen.