Tough week for Groupon.
The daily deals site released its fourth-quarter earnings on Wednesday—the first such report from the newly public company—and although revenue increased sharply, analysts worried about Groupon’s revenue forecasts.
The doubts caused its stock price
to tumble by 14 percent on Thursday.
Amid the good/bad financial news, Groupon announced that it hired Paul Taaffe to handle communications. The 50-year-old PR executive was formerly chairman and CEO of Hill & Knowlton, a position from which he resigned in January 2011.
“It’s a disruptive company and it’s one of the fastest- growing companies on the planet,” Taaffe told
Bloomberg. “I saw the opportunity to help manage that growth and tell Groupon’s story better.”
Taaffe’s predecessor, eBay veteran Brad Williams,
lasted only a few months. In the wake of his departure, Groupon’s PR firm got into an
awkward public spat with a reporter.
Groupon has experienced a series of PR gaffes in the last year, starting with a Super Bowl ad in 2011 that sparked unwanted controversy from the company’s 31-year-old CEO Andrew Mason. It also had some PR hiccups as it prepared to go public last year, and recently, Mason appeared on “60 Minutes” for an interview that many say cast the young entrepreneur in a negative light.
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