Groupon CEO: Moving Fast Is Key To Success

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It is hard to take "key to success" advice from a company that has never posted a profit and has had to restate earnings on more than one occasion. :rolleyes:

Groupon's stock is trading at about half of its IPO price, closing Monday at $10.46. It priced at $20 when Groupon went public in early November. The Chicago-based company has gone through some rough patches. In March, it restated its quarterly financial results, explaining that it lost more than it initially reported because it had to pay out more refunds than expected.
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I bet there isn't a day that goes by that he's not kicking himself for passing up that $6B.
 
Yes moving fast, over extending yourself, that is the absolute key to success just ask all those dot-com companies in the 90s which didn't go bankrupt!
 
The key to success is to have a shitty product, annoy your customers, and then have your valuation cut in half? OK buddy, can you give me tips on my love life too?
 
sfsuphysics said:
Yes moving fast, over extending yourself, that is the absolute key to success just ask all those dot-com companies in the 90s which didn't go bankrupt!
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I personally think it's hilarious all of the people who invested in original domain names fell flat on their ass.
 
Moving fast to sign Googles SIX BILLION DOLLAR check would have assured success you fucking moron!!!
 
Ferris: Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.

Or be ripped off/scammed/etc.
 
Aluisious said:
The key to success is to have a shitty product, annoy your customers, and then have your valuation cut in half? OK buddy, can you give me tips on my love life too?
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I think he was giving tips on his personal love life success secrets and the reporter got it wrong. You know: Moving fast is the key to success [in the bedroom]
 
Zuckerberg love tips:

No means no at this moment. So it doesn't apply five seconds later, because that's a different moment.

Applies to privacy policies and sexytimes.
 
Reminds me of the old con artist motto:
Move on before they catch on.
 
can some one tell me how groupon makes a profit in an example? like they sell a groupon for 10 bucks for 20 bucks worth of food to company X, The company is technically losing 10 bucks ( even though we usualy spend more than the alotted amount) and groupon makes y% of the groupon sold yet has to refund some orders AND pay the retailer their fair share?
 
tvdang7 said:
can some one tell me how groupon makes a profit in an example? like they sell a groupon for 10 bucks for 20 bucks worth of food to company X, The company is technically losing 10 bucks ( even though we usualy spend more than the alotted amount) and groupon makes y% of the groupon sold yet has to refund some orders AND pay the retailer their fair share?
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They don't make a profit. It's just the old dot bomb con game...get users, talk about the wonderful future when you will magically shift your entire business model to something that actually makes revenue, cash in from "investors," fade into the shadows while the dupes flip over the three shells and figure out what game was being played.
 
tvdang7 said:
can some one tell me how groupon makes a profit in an example? like they sell a groupon for 10 bucks for 20 bucks worth of food to company X, The company is technically losing 10 bucks ( even though we usualy spend more than the alotted amount) and groupon makes y% of the groupon sold yet has to refund some orders AND pay the retailer their fair share?
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They used to split proceeds 50/50 with merchants, but in an effort to attract smaller businesses they adjusted the split to 20/80 (Groupon/merchant).

Groupon is primarily a marketing firm, in my opinion (and in Mason's opinion too, it seems). Though I don't know if they supplement their revenue by charging merchants to use their online productivity marketing suite or if their revenues stem solely from the sale of group coupons.
 
i was leary when i read a wsj article about groupon and complaints by businesses that used them and also allegations at shady accounting, glad i didnt buy at the ipo
 
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