#89 Deal sites have a rough year

Groupon CEO Andrew Mason

(Credit: Dan Farber/CNET)

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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 a chance to sell the company to Google for $1 billion. Groupon's board of directors recently decided to keep the 31-year-old Mason on as CEO, despite the heat he's been catching for the company's struggles.

Competitor Living Social hasn't fared much better. After a net loss of $566 million in the third quarter, it laid off several hundred employees. It's also the target of a patent-infringement lawsuit by Blue Calypso, which previously sued Groupon over similar claims.

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