, Groupon sacks CEO Mason as results are disappointing
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. shares dropped on revenue miss
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.
, Venture Capital Fundraising Experiences 35 percent Downfall
A 35 percent drop in the U.S. venture-capital fundraising was experienced in the first quarter of 2012. Industry experts believe that the investors might just be taking a break before they begin undertaking more funds in earnest. 42 separate funds raised a $4.9 billion total pot at the end of the quarter, including ones from Bain Capital Ventures and Canaan Partners. This is 9 percent fewer participating funds than the same quarter a year earlier, which raised $7.6 billion.
