Another era has just ended. On the 28th of March, CEO Andrew Mason was sacked from his position. The Groupon Inc.’s decision to fire its founder came one day after disappointing results were released showing that the company lost almost $67.5 million in 2012. Unsatisfactory figures showed that Andrew Mason was not able to cope with decreased demand for daily coupons.
Groupon Inc., online shopping giant, on Monday published its quarterly profit as its shares dropped by nearly 20 percent due to revenue miss and investors’ concern over growth in the next months. Groupon’s shares lost almost a fifth of their value because revenue missed estimates due to economic situation in Europe. Although the company’s second-quarter earnings doubled expectation, shareholders concentrated on revenue miss and punished the stock.