Groupon Hires its First CFO
After the controversial refrain from Google’s acquisition proposal, Groupon is setting up its strategy, first by hunting for experienced personnel. For instance, Jason Child, the new CFO of Groupon is the former vice-president at Amazon – international business department.
Jason Child’s portfolio is impressive, having spent more than 12 years in Amazon’s enterprise. He succeeded there, grasping the main points of the online retailer: investor relations, technology, marketing and the importance of its corporate branding..
Being chosen as CFO at Amazon, Child commented: “Groupon is one of the most amazing businesses I have ever seen. I am thrilled to join a great team that is attacking one of the biggest opportunities in e-commerce today.”
Groupon rejected Google’s offer of $6 billion recently, awaking interest in its company and business model, even beyond Groupon itself. The acquisition at the high price of $6 billion would have seemed odd for Google, given Groupon’s influence and potential to enhance localized search. On the contrary, Groupon has been characterized by specialists as a massive sales force, which could have brought an advantage to the giant search engine.
Moreover, Groupon’s growth plan includes an independent strategy for growth, barring an acquisition at this point. It’s made a recent acquisition of its own, growing the technology and features of its service, striving towards an even bigger valuation. Groupon has surely learned from its industry predecessors–Google and Facebook nototriously averted acquisition offers of their own.
Groupon’s influence is expanding as the online group deals are quite popular right now, and they’re having a global effect. In China, the last 2 months demonstrated more than 10 million internet users taking advantage of the internet buying trend.
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