The Washington Post

Groupon jumps on the Wizards bandwagon of woe

Fast-growing daily deal site Groupon Inc. has filed paperwork for its hotly anticipated initial public offering of stock.

Groupon left a little barb against the 0-12 Washington Wizards in its daily deal description Wednesday for a $69 ticket package. Originally, the text compared the team’s season to a dam failure.

Will Sommer at Washington City Paper caught Groupon’s creative copy and posted to his City Desk blog on Wednesday.

“Watching an athlete succeed is supremely satisfying, though curiously, so is watching a dam fail. Feel the rush with this GrouponLive deal to see the Washington Wizards hit the hardwood at the Verizon Center,” the deal read Wednesday morning.

But the copy Sommer spotted was subsequently changed, though a more upbeat reference to the team’s bench “ flush with young stars eager to make their presence known in the league” remained as of Wednesday afternoon.

Groupon could not immediately comment on why the description was changed.

The online daily deals company is in a bit of trouble itself, and All Things Digital’s Kara Swisher reported Tuesday that the company’s founder and chief executive Andrew Mason may be asked to make way for a more experienced exec.

Addressing those rumors Wednesday at a conference hosted by Business Insider, Mason said that there is some truth to those reports.

With the company’s stock down 80 percent since its public debut, Mason said, it would “be weird if the board wasn’t discussing if I was the right guy for the job,” Business Insider reported.

Mason, also a member of the company’s board, said that he still feels he’s the right person for the job and “would fire myself” if he didn’t believe that.

Shares of Groupon jumped last week after the hedge fund Tiger Global said it had bought a 9.9 percent stake in the company, the Associated Press reported.

The company made its debut in November 2011 at $28 per share, but Groupon shares saw a 7 percent gain in trading Wednesday, trading at $4.26 per share at around 3 p.m. on Wednesday.

Hayley Tsukayama covers consumer technology for The Washington Post.



Success! Check your inbox for details. You might also like:

Please enter a valid email address

See all newsletters

Show Comments
Most Read



Success! Check your inbox for details.

See all newsletters

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.