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September 26, 2011 06:05 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8encvZXg0T0/-Groupon-Loses-COO-Drastically-Cuts-Reported-Revenue
Groupon Loses COO, Drastically Cuts Reported Revenue
itwbennett writes "Groupon COO Margo Georgiadis has quit after just 5 months on the job and is returning to Google to be the company's president for the Americas. Groupon's founder, Andrew Mason, wrote in a blog post that the company has undergone a reorganization with Georgiadis' departure, and now sales, channels, international and marketing will report directly to him. In other bad Groupon news, the company revealed in an SEC filing Friday that it was reporting revenue before it paid fees to merchants using Groupon. 'The effect of the correction resulted in a reduction of previously reported revenues and corresponding reductions in cost of revenue in those periods,' according to the filing." 
Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/8encvZXg0T0/-Groupon-Loses-COO-Drastically-Cuts-Reported-Revenue
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