With Groupon CEO Andrew Mason gone, one of the two dudes left running the ship is Eric Lefkofsky, a man notorious for massive dot com failure, who, it turns out, also pushed the daily deals site in all the wrong directions.
Now that Groupon's "quirky" co-founder and former CEO Andrew Mason has finally left, it sounds like the daily deals company will take the opportunity to appoint someone a little less childish and a little more concerned with the bottom line.
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It looks like those very bad earnings were the final straw for Groupon CEO and co-founder Andrew Mason, who said late Thursday that he had been fired by the tumbling deal site he saw rise, fall, and fall even harder.
Groupon's stock is down over 20 percent in after-hours trading after an earnings report that not only missed analyst expectations, reporting $683 million in revenue compared to an expected $640 million, but also posted a dismal forecast for next quarter.
Therese Poletti on Groupon, Anthony Lane on the Leveson report, Paul Krugman on class war, Ana Marie Cox on #Obama, and Ruth Marcus on Susan Rice.
In a normal world, it's not a good sign when a CEO publicly balked at the state of affairs at his company, highlighting its hemorrhaging stock price. But we learned long ago that Groupon does not operate in a normal world.
With investors pulling their money out of Groupon, Facebook, and Zynga, one might be tempted to call this tech bubble burst, but other Internet start-ups have caught the attention of the venture capital world, keeping this thing going.
Working at Groupon doesn't offer the fun or money it once promised, so it's no surprise that its sales people are looking for new jobs, as The Wall Street Journal's Shira Ovide reports.
After Groupon said it did not put a Washington, D.C. waffle-maker out of business, the waffle-maker has done a line-by-line take down of that very suggestion, putting the two in a he-said, she-said standoff.
Groupon has elicited gripes from businesses who do deals with the site about how long it takes to get paid, but now a waffle emporium in D.C. claims that the three-month wait for money from Groupon has put it out of business... three months after it opened.
Even after the first daily-deals bubble exploded, ending with Groupon's less than stellar IPO, we're seeing a resurgence in the once-trendy Internet money making scheme.
There's a faint glimmer on the horizon for daily deals sites, the much buzzed-about businesses (think Groupon) that exploded onto the e-commerce scene last year only to fade into irrelevance a few months later.
"Social gifting," the latest Internet shopping trend, is getting compared to Groupon for reasons both obvious and bad.
Due to over 60 complaints investigated by Britain's Advertising and Standard's Authority the Office of Fair Trading has told Groupon to clean its practices up while it keeps a watchful eye.
Groupon reported that it had a net loss in the fourth quarter Wednesday, a disappointing first result as a publicly traded company, reports Reuters.
It's easy to laugh at the just released report from British advertising watchdogs scolding Groupon for selling snake oil after the company helped peddle an anti-aging serum last October.
Remember last year when everybody flipped out about how the astoundingly huge holiday sales figures proved that the U.S. economy was leaning into a bullish comeback?
Groupon is expanding the kinds of deals it offers. Groupon's also trying to personalize deals you see. Add these two trends together and you get this awkward come-on.
In a recent daily deals mishap, Groupon may have actually not deserved the flack it got for a deal gone wrong.
On Tuesday, Groupon's stock fell 19 percent, hovering just above its original $20-a-share price of the company's recent $805 million IPO, starting the morning at $20.03; today the daily deal site's stock is down further to around $17 per share.
Today Groupon finally went public and with the stock opening with a 40 percent spike things don't look so bleak after-all.
Get ready for another of tech bubble paranoia after Groupon hits the NASDAQ later this morning.
As Groupon's gearing up for it's long-awaited initial public offering on Friday, Business Insider editor Henry Blodget explains why Goldman Sachs is promoting the notion that it's "oversubscribed."
For a moment there, it looked like Groupon was never going to get its IPO act together, but the daily deals site is finally scheduling it for Friday.
Yes, a site that specializes in daily deals has lowered the price of its own IPO, but is there a fresher joke to be made?
Groupon's finally taking its IPO on the road, but is seeking a much more modest valuation than initially anticipated.
Groupon is having a hell of a time trying to go public. After a banner initial valuation of $30 billion, it lost about two thirds of that over the summer and fall while going through management shakeups.
Groupon might be inflating prices to sweeten up sales
The company's IPO is back on for October, maybe
The company wants to give people an incentive to return to the businesses they try
The online bargain warehouse cuts revenue projections in half and loses its COO
Investors are balking on their initial enthusiasm for the cottage industry
Putting deals on the Kindle makes buying dangerously easy
The back and forth about Facebook and Groupon going public is getting old
A study of Yelp ratings shows Groupon customers are not happier customers
Okay, so it's a little tacky, but it makes sense for the business
Groupon still plans to go public, but it's not sure when
Traffic to main daily coupon sites Groupon and LivingSocial declined in July
Both Yelp and Facebook are moving away from coupons
Today the online dating site added a "Locals" section to their app
But subscribers are still buying papers mainly for their local coverage
The Pentagon doesn't know where $6.6 billion in bundled Iraq reconstruction money
Morgan Stanley, Goldman Sachs and Credit Suisse will be underwriters
The daily deal site may file to go public this week with a value $15 billion
Facebook Deals is a bigger threat than other imitators, including Google's
The corporate rivalry gets personal
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