Jason Child, Groupon's chief financial officer, sat down with Crain's reporter John Pletz for a wide-ranging discussion to touch on the company's direction following its rocky IPO and a high-profile accounting embarrassment. You can read that report here.
Mr. Child must fix not only Groupon's accounting problems but also its reputation. With the Chicago-based daily-deal company's stock trading at $10.06 — about half its $20 IPO price — Mr. Child is on the road doing damage control with investors.
A Groupon customer has reported an apparent security hole to CNet in which the credit card information of another customer was exposed.
When Stephen Pipino logged into the Web site to make a purchase, he saw someone else's credit card information and address displayed in his account, along with his own credit card data. The information belonged to someone with his same first and last name. Pipino verified that the address matched a business address for the other Pipino and has contacted him to let him know about the problem.
Complaints about Groupon advertising practices are continuing to flood in after being investigated by the Advertising Standards Authority and then the Office of Fair Trading.
Marketing Week reports that since the daily deal firm was referred to the OFT in December, complaints to the ASA have increased. It has received 162 about 161 advertisements since the referral.