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Groupon exec pushing growth

August 24, 2012

Groupon's recently named VP of operations, Kal Raman, is driving an overhaul of the daily deal website's sales and payment processes in hopes of convincing Wall Streeters that it is not a passing consumer fad.

Although it was once named the fastest-growing Internet company in history, shares are near a record low at $4.54, down from its $20 initial public offering price in November.

Raman, a former Amazon retail executive, took over at Groupon in April and is trying to change Groupon's payments system, cut sales support jobs and push new technology. He also, this month, took over daily operations from co-founder and chief executive Andrew Mason.

As part of Raman's growth plan, Groupon will introduce four sets of technology to make its sales force more efficient in North America and then Europe.

Although Raman said in a Tuesday interview with Reuters that Mason can't be held accountable for the company's growth or lack of it, Mason is still highly involved with the business.

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