Monday, June 20, 2011

Groupon not being quiet in the quiet period.

Felix Salmon posts on how Groupon is having a hard time being quiet in the quiet period before its IPO.  (The quiet period is where the company isn't supposed to make any substantive claims).  But Groupon can't take the fact that people keep criticizing the company and posted this - with the great line:
During this sensitive time, it is the duty of the press to force the adolescent company through a series of brutal hazing rituals, designed to desensitize it to public criticism.
Let's be clear here - this company is about to go public on a business model which appears to be largely unsustainable and the execs are whining because people are pointing this out?

I do have to give Groupon's management credit for making corporate finance funny though.