Everybody's favorite local coupon site Groupon finally got around to hiring a CFO after going the first two years of its existence without one. Jason Child will join the Chicago-based start-up after 12 years in the finance department of Amazon.
'Groupon is one of the most amazing businesses I have ever seen,' said Child in a press release. He spent seven years at the now defunct accounting firm Arthur Andersen prior to joining Amazon.
It's somewhat amazing that Groupon grew to the size it did without a finance chief. We're talking about a business that just turned down $6 billion from Google, has raised $170 million, and has run coupon promotions for tens of thousands of businesses, including national brands like Gap and the Body Shop.
As Barron's pointed out, it's not totally unusual for young, VC-backed companies to not have a CFO. But following Google's high-profile courting of Groupon, it was clearly time to get serious about the cash register.
Think your business is ready to bring on a finance pro? Check out this guide on choosing the best type for your operations.