Groupon COO quits after five months to return to Google

Margo Georgiadis has decided to go back to Google to become the company's president for the Americas

Groupon's COO has quit after just five months and decided to return to her former employer, Google, Groupon said on Friday.

Margo Georgiadis will become Google's president for the Americas, according to Groupon. She was previously vice-president of Google's global sales operations for two years before leaving for Groupon.

Groupon's founder, Andrew Mason, wrote that the company has undergone a reorganization with Georgiadis' departure, and now sales, channels, international and marketing will report directly to him. Mason wrote that Groupon has expanded its senior executive team by eight employees this year.

Groupon offers online coupons that can be used with businesses, with offers tied in to how many people decide to take up a particular deal. The company makes money by taking a slice of the sales from deals it advertises.

On Friday, the company revealed in a filing on Friday with the U.S. Securities and Exchange Commission that it committed an error in how it presented its revenue. The company said it was reporting revenue before it paid fees to merchants using Groupon.

"The effect of the correction resulted in a reduction of previously reported revenues and corresponding reductions in cost of revenue in those periods," according to the filing.

The change brought Groupon's revenue for 2010 from US$713.4 million down to $312.9 million. The change also affected calendar years 2008 and 2009. For the first half of this year, Groupon restated its revenue as $688 million, down from $1.5 billion.

Google reportedly made a $6 billion bid for Google last December, but it was not taken up by Groupon's board. In June, Groupon filed papers with the SEC for an initial public offering, but it was delayed.

Send news tips and comments to jeremy_kirk@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags internetbusiness issuesGoogleGrouponpersonnelInternet-based applications and services

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?