Faisal Masud, VP and GM of Groupon Goods, the e-commerce arm of Groupon, will be leaving the company later on in the month, his new job is unbeknownst to most and that has triggered a lot of speculation where a top level Groupon employee would go next.
From Groupon to …
Some source are indicating that he will be moving on to become head of staples, Masud has had an interesting career so far to say the least. First eBay which he then got hired away from to Groupon and now from online coupons to a stationary supplier.
Groupon has risen to the top since its founding in 2008, it has expanded it’s business into selling goods itself at a discounted rate, this side of the business is known as Groupon Goods – founded in 2011 a relatively new feature. Groupon announced that in 2012 it had $5.38 billion gross billings globally.
Groupon’s stock has had a harsh time ever since the company floated on the stock market in late 2011, at the moment the stock is in single digits which isn’t so good for everyone who thought the stock would take off big time. The stock at its peak got in to the 20’s but quickly fell back down, there has been a lot of skepticism from analysts about where Groupon could be anything more than a daily deal site.
While at Groupon Masud’s job was to help the company expand itself into a broader e-commerce site, this has helped the company from being pigeon holed as just another daily deal site. So which ever company Masud moves to they may ask him to work his magic on expanding their e-commerce system.
Loss of a CEO and No Comments
Groupon had no comment to make on the fact that their head is taking a new job, staples has not released any statement either whether Faisal Masud is rumoured to be taking a job there.
Groupon has been in the news recently because of CEO Andrew Mason being fired and also the companies first fiscal quarter earnings of the year will be announced this wednesday. Probably the most saddening thing to come of this week for Groupon their stock closed on Friday at $5.84 per share.
Source – Gigaom