Two summers ago Groupon had 37 employees. Now it has just under 10,000. There's rapid growth, and then there's Groupon. So, is this a good thing?
Groupon announced its second-quarter results this week and the numbers just make you dizzy when you read them.
Again, let's rewind to the summer of 2009 when Groupon announced a net gain of $21,000. This summer, it's a net loss of $102 million in one quarter. In large part, all those new employees are being blamed for this mega burn rate right now.
The good news; gross sales have mushroomed to $878 million (it was $3.3 million two years ago). Even better news: subscribers have jumped from just over 10 million last year to 115 million today.
Here are some thought questions to leave you with: