Gigaom: After a wave of reports that Groupon would have to drop the price on its initial public offering or even cancel it altogether because of skepticism about the company and its business model, the pendulum of optimism swung back again by Friday and the shares listed at $20 — well above the range Groupon was originally planning — and jumped as high as $30 when they first opened. So what happened? Did Groupon’s business suddenly improve? No, it’s still as questionable as ever. What happened says a lot more about the current bubble-style investment climate and an overheated market than it does about the potential value of the group-buying company.
(Reuters) - Former fund manager John Mattera was sentenced to 11 years in prison on Friday, after pleading guilty of defrauding investors of $13 million with a story that he put their money in Facebook Inc and Groupon Inc shares before the companies went public.
Bloomberg-Groupon Inc. ousted Andrew Mason as chief executive officer yesterday after the stock declined more than 80 percent from its November 2011 high. Mason left an unusual farewell note to his former employees, which was linked from his Twitter account:
ATD: Groupon has acquired Glassmap, the location-based deals discovery app, the startup announced on Friday.
Groupon confirmed the acquisition to AllThingsD. Terms of the deal were not disclosed.
