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Groupon loses second top sales bod in a week

Voucher bazaar can't hang onto execs

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Groupon is losing its US sales boss Lee Brown, who followed other senior execs who scarpered off earlier this year.

Brown, senior vice president of national sales, has decided to leave the voucher bazaar, according to an internal memo seen by Reuters.

Groupon in the UK said it couldn't confirm or deny that Brown had resigned.

The exit comes after a Wall Street Journal report that Jayna Cooke, another top salesperson, had left the firm this week.

The daily deals site's stock has plummeted since its IPO last year as accounting irregularities and restatements fuel concerns that sales aren't as easy as they used to be. The share price has tumbled 82 per cent since its first day of trading.

Although the firm finally made a profit in the second quarter of this year, it hasn't been enough to improve investors' confidence in its business model, particularly since revenues still missed analysts' expectations. ®

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