Yesterday, Groupon hit us with a massively disappointing first-quarter earnings report, which saw its stock tumble by over 25% after hours, and now CEO Andrew Mason is out. Someone had to take the fall, and the burden came on the shoulders of Mason, who'll be replaced in the interim by Ted Leonsis and Eric Lefkofsky while the board finds a new CEO. Mason released a letter to employees, and also made it public, admitting that he knew it would leak anyway--give it a read after the break.
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Groupon has launched an instant, location-based mobile deal offering service called Groupon Now. The service offers various deals throughout the day via a mobile application or on the Web, rather than a single deal delivered to your inbox.
It's similar to the way services like Foursquare or Facebook Places offer discounts and deals, tapping into your device's GPS to peddle coupons in real-time. When you enter your location, Groupon Now lets you choose the type of deal you'd like, whether it's a half-price salsa lesson or a discount on a cheeseburger. Using your existing Groupon account, you can purchase the deal with one click, present a barcode for the vendor to scan, and claim your discount.
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Following a week of rumors about a Groupon buyout, it seems now that Google could be buying the small company for $2.5 billion, according to internal sources. While neither company will comment on rumors, VatorNews quotes an internal source that confirmed the news to them. This would be a big deal for the small company since it could then use Google's intensive data on maps, locations and userbase, which could allow them to expand past the current select list of cities that they cover. Also, the acquisition makes sense for Google as they've been trying to grow Google Places, and compete with the likes of Facebook.
Read More | VatorNews
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