Groupon Looking For New CEO

Hey guys, dust off your resume, Groupon is looking for a new CEO. Seriously, it's not like any of us can be worse than their last CEO.

On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity, and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest growing companies in history," Lefkofsky said in the statement. It also quotes Leonsis saying that "Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future.

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Should have sold to Google.

Team Obi Juan said:

Should have sold to Google.

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+1. Guess we will see where that goes to.

They will never be worth close to what Google offered.

Fucking idiots. How does SIX BILLION DOLLARS look to you now, dumbasses!!! Shoulda taken the money.

Just fold the company. Let it die a final and permanent death.

the-one1 said:

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Well, everyone said it was a bad move the day they declined the offer. Just shows how greed blinds people. (as if 6 billion wasn't "enough")

Bet Google is glad their offer was turned down. Way to dodge a bullet.

No shit, Google launched their own Google offers what 2 months later?

I'm sure launching their own cost a hell of a lot less than 6bil

i might be wrong, but I think they turned down the google offer because to accept, even tenetevily, they would have had to open their books to Google and Google would have walked away, crushing their ability to get additional rounds of VC money and possible IPO. It would have torpedoed the company.

Sure it is torpedoed now, but Mason and others were probably able to exercise stock options and still make loads of money.

Sure the Google offer, if it went thru, would've made them more money, but the risk was high.

I don't like Groupon, and it is possible they just believed their own hype, but it could've been a shrewd play.

I think google nixing the digg deal was due to poor financials as well, but I can't righly recall. Google will aqui-hire and not care about the money, but if they are buying a "turn-key" business, they want positive revenue.

This is the real story. He was fired;

http://www.news.com.au/business/com...-was-fired-today/story-fnda1bsz-1226588240298

Crap company anyway that was let down by crap vendors that wouldn't honour their coupons, plus they sucked all the profits from those companies too, so it was just a big shit ball of companies ripping each other and the public off. Best to stay clear of that one as the triangle corners are sharp no matter which side you're on.

How it is still around is the only amazing thing about Groupon.