groupon

Facebook is changing the News Feed

CNET Update never did beat Battletoads:

Facebook will unveil a new look for the News Feed on March 7, but we may have a hint at what's to come judging by the new profiles being tested in New Zealand (via The Next Web). And Google is also testing a new look with a navigation grid icon.

Other headlines from Friday's tech news roundup:

- Groupon's CEO was fired, but you should read his farewell memo to staff. He compares the challenges leading Groupon to getting through the difficult Battletoads video game without dying. We hear ya, Andrew. … Read more

Low Latency No. 53: There's a Groupon for that

Low Latency is a weekly comic on CNET's Crave blog written by CNET editor and podcast host Jeff Bakalar and illustrated by Blake Stevenson. Be sure to check Crave every Friday at 8 a.m. PT for new panels! Want more? Here's every Low Latency comic so far.… Read more

Former Groupon CEO leaks outgoing memo: 'I was fired today'

Not waiting for a leak, newly ousted Groupon CEO Andrew Mason made his departing memo public this afternoon.

In it, Mason claims responsibility for missing expectations and the company's stock price, and says that a "fresh CEO" earns the company a chance at a second chance.

Mason also shows a geeky, youthful spirit, making the comparison of running the company this far to the popular, though notoriously difficult 1991 video game Battletoads.

You can read the whole memo below, which Mason linked to in a Tweet:

(This is for Groupon employees, but I'm posting it publicly … Read more

Andrew Mason out as Groupon CEO

Update: 2:40 PM PT Andrew Mason is out as chief executive at Groupon.

The company announced the management change in a terse statement this afternoon. It said that Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis would participate in a newly created Office of the Chief Executive, effective immediately, serving in this role on an interim basis until the board finds a CEO replacement.

"On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity, and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, … Read more

DailyDeal site unleashes itself from Google

DailyDeal is now back in the hands of its original owners.

The German daily deals site broke the news on its home page today, announcing that founders Fabian and Ferry Heilemann repurchased the site from Google.

A Google translated version of the deal offered the full scoop:

We are pleased to inform you today that we bought back the company as founder and CEO of Daily Deal and Google will now continue on their own. Daily Deal will of course continue the usual services and exciting offers -- just as we have done in the past. In addition, we will … Read more

LivingSocial raises $110M in funding from current investors

LivingSocial has raised $110 million in funding from its current investors, Chief Executive Tim O'Shaughnessy wrote today in a memo to employees, giving the daily deals site a much-needed cash infusion.

"This investment is a tremendous vote of confidence in our business from the people who know us best, our current board members and investors," he said in a memo viewed by CNET. "They have reviewed our plans for 2013, and they are enthusiastic enough to want to commit additional financial resources through this round."

The financing followed a "competitive process" in which … Read more

Groupon puts all gun-related promotions and deals on hold

Groupon has suspended all of its gun-related promotions, a move that has led some gun-rights advocates to call for a boycott of the daily deals site.

"All scheduled and current gun-related deals featured on Groupon North America, including shooting ranges, conceal-and-carry and clay shooting, have been placed on hiatus while we review internal standards that shape the deal inventory we feature," Groupon spokeswoman Julie Mossler told AOL Daily Finance in a story published Sunday. "The category is under review following recent consumer and merchant feedback."

Although the move is presumably in reaction to last month's … Read more

For Groupon CEO, there are more questions than answers

For Groupon Chief Executive Andrew Mason, there are a lot more questions than answers.

The young executive wasn't exactly verbose during an interview today with Fast Company's E.B. Boyd at the Mobile Loco conference in San Francisco. It was evident pretty quickly (aka after the first question) that there are a lot of things he's not really interested in chatting about right now.

He didn't want to talk about the rumor that Google was interested in buying Groupon, and he didn't want to broach the topic of possibly being acquired by someone else. That'… Read more

Deal sites have a rough year

Groupon, the company that made daily deals popular for consumers, has had a tough tumble. After finally going public late last year, the company faced massive competition, slowed growth in revenue and a decimated stock in 2012. In its early days, Groupon was a tech superstar, charging along on a mission to become the fastest-growing company in history. But as the months passed, the company was plagued by slumping stock, a shareholder lawsuit and the rumored unrest from employees trying to leave the company.

Much of the blame has fallen on the shoulders of CEO Andrew Mason, who once had … Read more