The originator of group buying Groupon company for the launch of the online group buying method and became famous confidently rejected Google’s $6 billion acquisition offer, and listed with a market value of $17.8 billion (currently about RMB 122.286 billion).
Groupon has seen its revenue shrink over the past decade: its core business model has stagnated and its diversification efforts have had little success, leading to declining revenue and continued losses.
The Chicago-based company, which now has a market cap of just $103 million (down 99.4% from its IPO debut), has appointed board member Dusan Senkypl as interim CEO and is running the company’s operations remotely from the Czech Republic.
