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Fired Groupon CEO Records 'Business Music' Album

And 'motivational business music' at that...

(Newser) - Groupon's co-founder seemed to take it pretty well when he got fired , which somehow still doesn't detract from the nuttiness of what Andrew Mason has done since: recorded an album ... of "motivational business music." The tidbit comes in an otherwise fairly unremarkable Chicago Tribune piece about...

Groupon CEO Sounds Fine About Getting Fired

Andrew Mason writes snarky farewell

(Newser) - Groupon gave CEO Andrew Mason the boot today after another lousy earnings report, and the company's long-suffering stock immediately jumped more than 7%, reports the Wall Street Journal . The ouster wasn't much of a surprise, and Mason himself seems to have accepted it with sense of humor intact,...

Groupon Yanks Gun-Related Deals

Gun shop owner calls for boycott

(Newser) - Groupon has dropped all current and future gun-related deals after what it says was pressure from customers, the Los Angeles Times reports. The daily deals site says all shooting range, conceal-and-carry classes, and clay shooting deals have been suspended while it "reviews internal standards." Groupon joins several other...

More Bad News From Daily-Deals World

LivingSocial to lay off 400, Grouponers may want CEO ousted

(Newser) - Things still aren't so cheery in daily-deals land, with two of the biggest players in the space—Groupon and LivingSocial—taking a hit in the press after taking a hit in the wallet. The latest:
  • LivingSocial will announce today that it's cutting almost 9% of its staff, sources

Groupon Stock Plunges to New Low

80 workers laid off as firm faces trouble in Europe

(Newser) - Saddled by weak performance in Europe, Groupon's struggles continue: Its shares dropped to $3.25 in after-hours trading yesterday, sinking below analysts' already muted expectations. The plunge marked a 17% drop from its $3.92 closing price. Since its IPO, the company has lost four-fifths of its value, Reuters...

More Groupon Woes as Senior Execs Bolt

Sales team hit especially hard as Groupon loses luster

(Newser) - Not only are many of Groupon's top investors leaving the company due to the share price dropping by three-quarters since its IPO last year, many of the company's senior executives are jumping ship, too, reports Reuters . The latest to leave is Lee Brown, the head of Groupon's...

Hollywood Bit Actor Accused of Extortion Death Plot

Vivek Shah threatened to kill targets' kin, say feds

(Newser) - A small-time Hollywood actor has been accused of attempting to extort millions of dollars from wealthy individuals by threatening their relatives with death if they didn't pay up, reports the Wall Street Journal . Vivek Shah, 25, mailed extorting letters to five people, according to court documents. He demanded wealthy...

Key Groupon Investors Ditch the Troubled Stock

Critics say big pre-IPO investments overvalued the company

(Newser) - With Groupon having lost three-quarters of its IPO value, several of its key early investors, including web icon Marc Andreessen, have left the building, reports the Wall Street Journal . Andreessen's firm, Andreessen Horowitz, invested $40 million of the $950 million pumped into Groupon in the months before it went...

Groupon Stock Hike Probed
 Groupon Stock Hike Probed 

Groupon Stock Hike Probed

Trading spikes ahead of release of strong results

(Newser) - Did Groupon insiders try for a daily deal of their own? A Wall Street regulator is probing some fishy trading activity in the hours before the company released stronger-than-expected financial results earlier this week, sources tell the Wall Street Journal . Shares in the company—which had fallen more than 50%...

Groupon Shares Surge After First Profit

Coupon site says it has boosted revenue, slashed costs

(Newser) - Groupon is starting to look like a good buy for investors again. The daily deals company's shares surged 18% yesterday, and climbed further in after-hours trading after it recorded its first-ever quarterly profit, excluding a one-off charge for tax expenses, reports Reuters . Revenue leaped 89% from a year earlier...

'Widespread' Abuses by Groupon: UK Regulator

Company given three months to clean up its act

(Newser) - The UK's Office of Fair Trading today found Groupon guilty of "widespread" violations of consumer protection rules, citing concerns over "pricing, advertising, refunds, unfair terms, and the diligence of its interactions with merchants," the BBC reports. The regulator gave Groupon three months to clean up its...

Groupon Offers $12K Trip to See Titanic

You'll head down to see the ship itself in a small submarine

(Newser) - Attention, serious Titanic buffs with cash to burn and no issues with claustrophobia: Groupon is offering a $12,500 deal today (actual value: $59,680) on an excursion to see the sunken ship up close and personal, reports the Chicago Tribune . The highlight of the 13-day trip, which departs from...

Groupon Sees Backlash Over 'Dahmer Tour' Coupon

It yanks affiliation after Milwaukee residents complain

(Newser) - A gruesome Groupon has sparked an uproar in Milwaukee. The daily deal website offered a coupon for a tour of "the hunting grounds" of serial killer Jeffrey Dahmer. The deal sold out, but a flurry of negative reaction caused Groupon to pull its affiliation with the company organizing the...

Groupon Posts $42.8M Loss
 Groupon Posts $42.8M Loss 

Groupon Posts $42.8M Loss

First results since IPO disappoint investors

(Newser) - Groupon's first earnings release as a public company may leave those who flocked to buy shares after its IPO with buyer's remorse. The daily deals site posted a fourth-quarter net loss of $42.7 million, sending its shares tumbling 13% and surprising analysts who had predicted a modest...

Groupon Shares Going Gangbusters on Day One

Thanks, but no thanks, says Henry Blodget

(Newser) - Groupon is having a big debut as a public company. The stock was selling for about $30 a share at the market's open today, way above the $20 IPO price the company set last night, reports the Wall Street Journal . Which means that, on paper anyway, the company is...

Groupon IPO Values Firm at $12.8 Billion

Daily deals king overpriced, analysts say

(Newser) - Groupon has raised $700 million in the biggest initial public offering by a US Internet firm since Google's 2004 IPO. The daily deals leader floated some 5% of the firm for $20 a share, above an initial range of $16 to $18, giving the company a market value of...

Groupon Expects $480M From IPO

Had hoped for $750M just months ago

(Newser) - Early this summer, Groupon was aiming to raise $750 million in its initial public offering; now, it expects to raise no less than $480 million but no more than $540 million from the sale of 30 million shares, the AP reports. In a tough market for stock offerings, the firm...

Groupon to Start IPO Roadshow

Despite questions about its accounting, valuation, and leadership

(Newser) - Groupon is going ahead with its IPO plans , and will launch its official roadshow to drum up interest next week, sources tell Reuters . The move comes despite recent turmoil in the stock market and questions about Groupon’s own accounting practices. The IPO is expected to value the company at...

Devices Spy on You 24 Hours a Day

Personal data sells for billions of dollars

(Newser) - Companies are observing nearly every move you make and selling your personal data for billions of dollars—and Washington appears helpless to stop them, the Los Angeles Times reports. Whether it's your smart phone, cable box, Facebook page, or video game, devices are amassing reams of data on your...

More Groupon Workers Suing for Overtime

This time, 50 employees allege they weren't paid overtime

(Newser) - Groupon employees have filed a class action lawsuit against the company claiming unpaid overtime, the second such suit filed against the daily deals website in the past month. This time around, Groupon’s so-called “deal vetters”—a position that no longer exists—say they weren’t paid overtime...

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