16 Jan '12, 12pm

Groupon founder admits his failings

Home | Insights | Industry news 16 January 2012 Groupon founder admits his failings Groupon founder and CEO Andrew Mason has admitted his team made a "bush-league mistake" in the lead-up to the company's IPO filing last November. The daily deals monger was forced to revise its filing papers after reporting that it generated $713.4 million (£466.3 million) - the Securities Exchange Commission said revenue figures should have been $312.9 million (£204.5 million) - a considerable discrepancy. "Smart people can get this stuff wrong," Mason said in an interview . "We're inventing a new industry. Like, if we were smart, evil people, we would be more cunning and subtle in our evil ways." Although Groupon's share prices beat analyst expectations following its IPO filing - the bargain hunter had the strongest debut of any internet company since Google - share prices have cooled off...

Full article: http://www.bigmouthmedia.com/live/articles/groupon-founde...

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