When Groupon first arrived on the scene, it was heralded for being the fastest growing company of all time.
There is, of course, a danger to being a fast growing company. It’s hard to predict if the incredible growth is just a fad, or something that can last in the long run.
In Groupon’s case, it’s looking like it was a fad. Bloomberg ran this chart which shows that Groupon’s core couponing business has stopped growing. To grow Groupon’s revenues overall, it’s going into a new line of business — Goods, which is like a traditional ecommerce company.
The collapse of Groupon’s couponing business has led chairman Eric Lefkofsky to consider firing CEO Andrew Mason in favour of finding a new executive who understands the new businesses Groupon will have to attack, says Doug MacMillan at Bloomberg BusinessWeek.
MacMillan says Mason has a few quarters to prove he can turn the company around.
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