Amid recent stock market volatility and escalating bad press, No. 1 online daily deals site Groupon canceled its investor roadshow and is reevaluating plans for an initial public offering, according to a new Wall Street Journal story, which quotes "a person familiar with the matter." While the Chicago company isn't pulling its IPO, it is reassessing its timing on a week by week basis, the newspaper says.
"Given the recent fluctuations in the stock market," the WSJ says, "Groupon executives decided to take a wait-and-see approach, this person said. Still, this person acknowledged that senior Groupon executives have been discussing the fallout of all the negative press as it seeks to attract investors. Given the criticism about its business, it has become increasingly difficult to run the company, the person said."
Any changes in the timing of Groupon's IPO come as Gannett aims to roll out its own site -- DealChicken -- to more than 50 U.S. markets by the end of the year.
Hundreds of other daily deal start-ups are flooding the market, too. Some, meanwhile, are dropping out -- including social networking giant Facebook, which killed its five-month-old deals site less than two weeks ago.
Any changes in the timing of Groupon's IPO come as Gannett aims to roll out its own site -- DealChicken -- to more than 50 U.S. markets by the end of the year.
Hundreds of other daily deal start-ups are flooding the market, too. Some, meanwhile, are dropping out -- including social networking giant Facebook, which killed its five-month-old deals site less than two weeks ago.
Gannett, once again, 'a day late and a dollar short'.
ReplyDeleteGroupon: Jumped the Shark.
ReplyDeleteDeal Chicken; Tripped over the Sardine.
Have I mentioned recently how sick I am of Deal Chicken? If not, let me repeat what I said previously....you can look it up for yourself. Just use the search engine on the right and type in Deal Chicken.
ReplyDeleteis it just me or does the Chicken have a sort or "deer in the headlights" expression? Certainly not confidence inspiring, my 3rd grader draws better looking graphics.
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