Groupon Puts IPO On Hold 129
With his first accepted submission, quantr tips news that Groupon's IPO plans, which triggered skepticism about its high valuation and furthered claims of a new dot-com bubble, have been put on hold amid regulatory concerns and worries about "market volatility." According to the WSJ, "When the company filed to go public in early June, it attracted criticism for its high marketing costs and unprofitable business. The company was also asked by the Securities and Exchange Commission to remove an unusual accounting metric, dubbed Adjusted Consolidated Segment Operating Income, which painted a more robust picture of its performance. Last week, the SEC also contacted a Groupon attorney over a different matter, said a person familiar with the situation: a leaked internal memo from Groupon Chief Executive Andrew Mason to his staff, in which he touted the company and blasted its critics. Making public statements about the financial status of a company during an IPO process is prohibited by SEC rules."
Mark my words. ... (Score:2, Funny)
Goupon's stock after IPO will be worth as much as its coupons.
Re:The Web 2.0 fad is on its way out. (Score:4, Funny)
The so-called "Web 2.0" fad is on its way out. It hasn't lived up to expectations, and in many ways has caused a huge amount of disappointment and trouble for many people. Privacy has become scarce, and people are subjected to ever-increasing amounts of pointless advertising, or just straight out useless information. The "community" aspect has turned out to be one big manufactured load of marketing bullshit.
Even the massively-hyped Web 2.0 technologies have shown to be failures when applied to real problems, where data actually has value and reliability is important. Ruby on Rails applications often have horrible performance and poor maintainability. NoSQL databases can barely be called "databases" due to their tendency to lose data and the most inopportune times. JavaScript is an absolute joke. HTML5 is by far the shittiest standard of our day.
Web 2.0 is on its way out, and I don't think that any average person is really going to miss it.
I'm going to unfriend you now.