The founder and chief executive of Groupon, Andrew Mason, has been asked to leave the company after Groupon reported it’s quarterly loss. Chairman Eric Lefkofsky and vice chairman Ted Leonsis have stepped in as temporary joint chief executives until a replacement for Mr Mason is found.
Less than four years since bursting onto the scene, online deals company Groupon has bagged numerous awards, grown to 12, 000 employees in 42 countries and it even has its own dedicated travel division. Breaking Travel News catches up with Roy Blanga, the man tasked with heading up the company’s UK operations, to find out what’s next on the agenda for the industry changing - Groupon.
A new North American website is offering an ethical and sustainable alternative to profit-hungry online group discount companies like Groupon, that have been accused of exploiting retailers, putting small businesses in jeopardy of bankruptcy and customers at risk of not being able to get the deals they paid for.
Groupon Hong Kong has unveiled its travel deals site - Groupon Getaways – as it seeks to meet growing demand from travel in the Chinese destination. The new specialty deal site will offer Asia travel deals including discounts on flights, hotels and cruises through the service, with updates every Sunday.
According to the Economics textbooks, a recession is a business cycle contraction - a general slowdown in economic activity. During recessions, employment, investment spending, capacity utilization, household incomes, business profits, and inflation all fall, while bankruptcies and the unemployment rate rise. Basically, a pretty sorry state of affairs, with the knock-on effect being the average person is being forced to stay in to save money.
Groupon is the fastest growing business of all time. Since its launch in November 2008, deal-of-the-day website it has grown into a business valued in excess of $1.3 billion. And now it is moving into travel after a new tie-up with Expedia. Can Google launch of Offers catch it?
Groupon has filed paperwork for an initial public offering in what many are already viewing as a test case for the latest web bubble. The daily deals site is seeking to raise $750 million through the offering, with investors using the launch as a barometer of the present tech-market.