Groupon founder ousted as sales and share price dive
The founder and chief executive of Groupon, Andrew Mason, has been ousted.
The widely-expected move came after the online voucher firm posted another quarterly loss, prompting a 24% slide in its share price on Thursday.
Groupon's shares have lost 77% of their value since the firm was floated on the Nasdaq in November 2011, as investors fear its business model offering bulk discount deals may be unsustainable.
Matthew Gwyther, editor of Management Today, explains some of the contributing reasons why Groupon's share value fell.