***PLEASE READ***
Weak Management: it all starts from the top. There are way too many executive and management (Vice President and Director levels) "relics" in this company who are incompetent beyond the company's early days as a media darling. They are just too small for their britches. Now that the media sizzle is gone and the company has to operate on a daily basis, it's easy to see the cracks, holes, and faults wherever you turn. Groupon has some major operating issues, particularly in its international business and here in Chicago, the HQ, where all the major decisions are made.
We brought over many executives from Amazon because we thought we could be like Amazon, but didn't realize how hard it is to run a real company beyond just deals because we're missing so many pieces and we can't seem ever make the right decision internally, catch a break with the media, and get our financials in line.
We acquired many companies to run our product development offices in Silicon Valley and once the acquired talents get their stocks and cash they can't wait to leave. Why? Because these guys are smart. Instead of getting stuck in the bureaucracy, they go elsewhere while they still can.
The Chicago HQ office really needs help. It's basing a great deal of emphasis on daily deals and not much elsewhere.
Poor guidance: weak management = poor guidance. We cannot seem to make the right decisions and most often then not cannot seem to keep great employees because they are frustrated by not getting the recognition they deserve. Some managers try to influence with fear as if the employees jobs are at stake. This is poor management.
Dim Outlook: weak management > poor guidance > dim outlook
What can I say but to direct you to the financials of Groupon. We are not gaining. We have lost the hope of our investors and the only ones really holding on are the ones who can cash out the most from the top. That is a fact.
