Groupon Inc. Chief Executive Andrew Mason said the Chicago-based daily deals provider is pulling all of the Super Bowl ads that had provoked a negative reaction online earlier this week.
“We hate that we offended people, and we’re very sorry that we did – it’s the last thing we wanted,” Mason wrote in a blog post on Thursday, adding: “We will run something less polarizing instead. We thought we were poking fun at ourselves, but clearly the execution was off and the joke didn’t come through. I personally take responsibility; although we worked with a professional ad agency, in the end, it was my decision to run the ads.” Get the full story »
From Bloomberg News | Groupon Inc., which last month rejected a $6 billion takeover offer from Google Inc., isn’t convinced it will sell shares in an initial public offering anytime soon, said Chief Executive Officer Andrew Mason. Get the full story>>
Groupon CEO Andrew Mason in a video to Japanaese customers. (YouTube)
The chief executive of Groupon, the rapidly growing online coupon provider, apologized to Japanese customers Monday for a New Year’s deal gone wrong that highlighted the difficulties the company faces in managing its global expansion.
In a subtitled video message uploaded onto YouTube, the company’s founder and CEO Andrew Mason acknowledged that the company had “really messed up” and outlined steps it was taking to rebuild its tarnished image in Japan. Get the full story »
New York Times News Service | Groupon, the social buying site that spurned a $6 billion offer from the search giant Google, is pushing ahead with plans for its initial public offering, a debut that could value the company at $15 billion or more.
The company, which just raised a record $950 million from big investors, discussed a public offering with bankers this week, according to two people with knowledge of the deal who were not authorized to speak publicly on the matter. Banks are pitching Groupon on dizzying valuations at which they expect to take the company public, with many at $15 billion. Get the full story »
From the Chicago Sun-Times | Groupon CEO Andrew Mason reminded everyone that he was a music major in college during an improv charity event late Tuesday at Second City. Accompanied by a singer, guitarist and saxophonist, the Northwestern alumnus, who was once part of a Billy Joel tribute band, sat at a grand piano and played “Movin’ Out” and “Scenes from an Italian Restaurant.” Get the full story>>
Groupon CEO Andrew Mason speaks at the company's headquarters on Aug. 31, 2010. (Brian Cassella/Chicago Tribune)
By Melissa Harris and Wailin Wong
The deal didn’t tip after all.
Chicago-based Groupon Inc. has turned down an acquisition offer from Google Inc. and is staying independent, two sources with direct knowledge of the situation said Friday.
The two companies had been engaged in talks, with speculation about the marriage reaching a fever pitch over the last week. Mountain View, Calif.-based Google reportedly had offered between $5 billion and $6 billion for the daily deal start-up. Get the full story »
Mayor Richard M. Daley said Tuesday that he has created a committee to study infrastructure needs for local technology companies and entrepreneurs.
The committee comprises 20 members, including top executives at local tech firms and representatives from area universities. The group also includes local venture capitalist Matt McCall of New World Ventures, Navteq Chief Executive Larry Kaplan, Kevin Willer of Google’s Chicago office, and Brad Keywell and Eric Lefkofsky, co-founders of Lightbank, a Chicago-based investment fund focusing on early-stage tech companies. Get the full story »
From Bloomberg | In an interview with Bloomberg TV, Andrew Mason, chief executive officer of Groupon Inc., discussed his company’s business strategy and the prospects for an initial public offering, as well as possible partnerships with media companies — “something where they can maybe replace one of their traditional boring display ads [on the web] with a Groupon that’s relevant to their users.”
From Bloomberg | One of the challenges facing Chicago-based Groupon Inc., which offers a daily deal to consumers in more than 140 cities, is that the site’s coupon-wielding hordes can overwhelm small businesses, rankling partners and customers alike. Overcoming those glitches will be key to helping Groupon maintain growth, hang on to its $1.35 billion valuation and possibly move toward an initial public offering. The company is making an effort to ensure that business partners aren’t overrun with customers, said Chief Executive Officer Andrew Mason.
