Eric Lefkofsky and Ted Leonisis, the interim chief executive officers of Groupon Inc (NASDAQ:GRPN) indicated that the company is unlikely to appoint a permanent CEO until next year. According to the interim CEOs, the daily-deals company is in the process of finding the right executive to assume the position permanently, and it is not in a hurry to hire a new leader. “We are not in a rush. We are just starting the process....
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Tiger Global, a famous hedge fund founded has acquired Cobone, a global daily deals website based in Dubai, a city-state in the United Arab Emirates (UAE). According to a press release, the amount of shares purchased by the investment management firm is unknown. Tiger Global’s decision to acquire stakes in Cobone indicated that the local internet start-up has the ability to generate high return-on-investments. According to the report, the hedge fund’s capital infusion will...
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Groupon Inc (NASDAQ:GRPN) cancelled all of its firearms-related deals amid the current debate on gun control following the shooting incident at Sandy Hook Elementary School in Connecticut, which killed 20 children and six adults. According to an e-mail statement from Julie Mossler, spokesperson for Groupon Inc (NASDAQ:GRPN), the company suspended the category on its site while reviewing recent feedback from consumers and merchants. Mossler wrote, “All scheduled and current gun-related deals featured on Groupon...
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LivingSocial, an online daily deal company confirmed previous reports regarding the layoff of hundreds of its employees. According to Andrew Weinstein, spokesperson for LivingSocial, the company would cut its global workforce by 10 percent or discharge 400 workers. A majority of the job cuts would be in the United States and a few from its business operations abroad. Weistein said LivingSocial is streamlining its workforce, particularly in its editorial and sales departments. The company...
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Groupon Inc (NASDAQ:GRPN) inked a multi-year agreement with MLB Advance Media, the interactive media and internet company of the Major League Baseball (MLB) to serve as its official daily deals site. The e-commerce company said it would handle all deals for the 30 MLB clubs through its GrouponLive events platform, which was introduced to offer the best deals in local entertainment, such as college, or professional sports events, concerts, family entertainment, plays, and musicals...
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Andrew Mason, the CEO of Groupon Inc (NASDAQ:GRPN) – the deeply troubled daily deals website – may get the boot in favor of a CEO with more experience. According to AllThingsD’s sources, several members of the Groupon Inc (NASDAQ:GRPN) board have been discussing a series of major changes at the leadership level of the Chicago-based company. One of the changes discussed includes bringing in a more experienced CEO to replace Mason, one of the three...
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Groupon Inc (NASDAQ:GRPN) appointed Kal Raman, a veteran in the technology and retail business, as chief operating officer. He is currently serving the company as senior vice president for global sales and operations. He joined the company in April 2012. As COO, Raman will continue to supervise the company’s global sales and operations, and report directly to Andrew Mason, chief executive officer of Groupon. According to Mason, Raman will lead the deployment of tools...
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