Groupon, Inc. (Groupon), a Chicago based e-commerce marketplace that connected merchants to consumers by offering goods and services at a discounted price, reported a net loss of US$49.1 million in the first quarter of 2016 compared to a loss of US$14.3 million in the corresponding period of the previous year . The company had reportedly been struggling since the beginning of 2016 as it announced layoffs, streamlined its international operations, and spent heavily on attracting new customers. Talking about the challenges facing the company, the newly appointed CEO, Richard Williams (Williams), said, “It’s a big task but it’s an exciting one. We’re the clear leader in our space. It’s been a bumpy road, but smooth roads are pretty rare for pioneers and we’re clearly in that space.

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