neddy
Top Contributor
I wonder if Groupon is regretting not taking the $6 billion offer from Google?
I also wonder if it is the beginning of the end? Just read this on "USA Today":
Full article here: http://www.usatoday.com/money/companies/story/2011-09-26/groupon-IPO-in-trouble/50548532/1
I also wonder if it is the beginning of the end? Just read this on "USA Today":
Groupon's woes are mounting. The start-up recently canceled its IPO roadshow. And it is losing boatloads of cash — $223 million in the first half of 2011 alone, according to the filings — as it faces a crush of rivals, including deep-pocketed Google.
The deals giant is also operating without cash. Groupon reported working capital of negative $305 million in the first half of 2011, SEC papers showed. Worse, company executives are cashing out from the $1.1 billion that venture firms invested.
"You see insiders trying to dump the shares," Hamadeh says.
So far, some $946 million has been extracted by insiders who cashed out, filings said. Co-founder Eric Lefkofsky took $319 million from the cash-strapped Groupon, according to the SEC documents.
Full article here: http://www.usatoday.com/money/companies/story/2011-09-26/groupon-IPO-in-trouble/50548532/1