Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6519
    -0.0017 (-0.26%)
     
  • OIL

    83.11
    +1.76 (+2.16%)
     
  • GOLD

    2,254.80
    +42.10 (+1.90%)
     
  • Bitcoin AUD

    108,757.74
    +2,590.98 (+2.44%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6036
    +0.0005 (+0.09%)
     
  • AUD/NZD

    1.0908
    +0.0028 (+0.26%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     

Groupon's Top Tech Guy Is Leaving And The Stock Dropped 8% On The News

Jeff Holden Groupon
Jeff Holden Groupon

Twitter

This is Jeff Holden.

Groupon's stock sunk 8% intraday yesterday after Groupon revealed in an SEC filing that its Senior Vice President of Product Management, Jeff Holden, is leaving the company in March.

Holden worked at Groupon for nearly three years, after joining the company when Groupon bought Pelago, where he was CEO, in 2011. Holden held a key position at Groupon and was lauded for his understanding of consumer buying behavior.

Before Pelago, Holden worked at Amazon for eight and a half years, leaving the company as the SVP of "worldwide discovery."

Although we don't know why Holden is leaving or where he is going, Crain's reports that he won't be joining a competitor.

ADVERTISEMENT

Sterne Agee analyst, Arvind Bhatia, calls this move a "mild negative" for the company.

"The timing of the announcement adds to our existing concerns regarding 4Q trends," Bhatia wrote in a note to investors.



More From Business Insider