Feeds

Groupon's retail chief heads for the door... after just 1 year

Office supplies... mmm. We hear there's money in that

Internet Security Threat Report 2014

Groupon's head of retail is leaving the beleaguered voucher bazaar after just one year in the job.

Faisal Masud, who joined Groupon from eBay to run its Goods division, will be leaving at the end of this month to develop ecommerce at office supplies firm Staples.

Groupon Goods is the daily deals site's alternative revenue stream, set up to sell products in competition with the likes of eBay and Amazon. The unit has provided a bright spot in the company's earnings reports as the appetite for its discount vouchers fades, although it's still too new to be a surefire rescuer for the firm.

After debuting to much pomp and ceremony back in 2011, Groupon has proved one of the most disappointing of the internet startups to go public, reporting increasingly poor results and steadily losing value.

CEO and co-founder Andrew Mason, who had hung onto his seat with all the tenacity of a bulldog, was finally let go in February this year, but not before a string of top execs left the firm for pastures they doubtless hope are greener.

The voucher vendor has yet to hire a new permanent chief exec, relying for the moment on executive chairman Eric Lefkofsky and vice chair Ted Leonsis. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.