BuyWithMe Lays off More Than Half of its Employees
Groupon cut their IPO by more than half to $10 11b from $25 30b. If you think its bad that they laid off 75% of their employees wait until Groupon has to lay off a good portion of their 10k + sales force. Through being in the business, understanding Groupons financials and the market I have a hard time believing they are worth more than a few billion. The market requires a large on the ground sales force (expensive) and huge marketing expenditures to keep and gain new customers who are Nike Air Max 95 Size 11 not loyal. Groupon may be better off pivoting into some sort of social network as they do have subs. How on earth could you offer stock in a venture like that to the public with a clean conscience?Sooner or later you run out of merchants, it only works for goods that have such a huge profit margin that you can actually afford that. And I rarely see Groupon deals that suggest that they're still profitable for the merchants. recession that began in December 2007 ended in June 2009, officially.
about (a) the finances of the company, and (b) the state of the group buying industry.
typicalrunt 1043 days ago link
radiant1 1043 days ago link
I don't get why startups go into acquisition binges, trying to buy their way to the top rather than out innovating the competition. It is really sad for the poor folks laid off, and this seems like it was run purely on greed rather than any kind of desire to do something awesome. (Sorry, do I sound like a hippie?).
mathattack 1043 days ago link
abbasmehdi 1043 days ago link
nradov 1043 days ago link
wlievens 1043 days ago link
then asking for more money. Sounds like a VC/PE firm, not a deal site. If you're out of cash, I understand letting people go in a hurry but that management team will struggle to get employees in their next venture.
oacgnol 1043 days ago link
jprobert 1043 days ago link
jprobert 1043 days ago link
A recession has a well known definition.
remotely interesting or innovative.
It's the Eric Lefkowsky model. Grow as fast as possible at an unsustainable rate in an unproven market and take be money and run.
So what, it was just a lame MLM scheme anyway. They weren't doing anything even Air Max Htm M
6 purchases in 6 months, Air Max Grey Suede
At this time BuyWithMe is laying off 75% of their workforceTechnically yes, that's more than half, but maybe they should have said 75%. That's quite a chop and it certainly tells us something Nike Air Max 95 Green Camo
Great companies focus on their products and understand that their employees are a key part of the team. Passionate employees will work their tails off for something they believe in. Too bad the CEO wasnt passionate about the employees or actual products.
It just doesn't seem like there's any room in the market for Groupon and all of the me too startups. The business model for most of these companies don't seem to add up in the long run either.
The reckoning is clearly coming on this industry (daily deals / group buying). They could have taken a flat to down round, stopped buying other little companies, and tried to make it work.
Air Max Command Leather Black
Air Max White Leather
Nike Air Max 95 Grey White
Air Max Plus On Feet
Air Max 95 Orange
Air Max For Ladies Images
Nike Air Max 95 360 Black
Kobe 9 Elite White Gold For Sale
Nike Air Max 95 Phantom
Air Max Black Girls
Nike Air Max 95 Grey And Black
Nike Sneakers For Women Neon
Nike Hypershift High Tops
Nike Kobe 9 Low Em White Gold
Nike Shoes Grey Men