to boost profits. 102 This move was speculated to be a competitive threat to Groupon, but Facebook ended the project by August 2011. 13, the idea gained the attention of his former employer, Eric Lefkofsky, who provided 1 million in " seed money " to develop the idea. (grpn) Shifts Bonds to Early Investors, Consultants and Advisors". 90 The Indian company was renamed Crazeal in Oct 2011 and CEO Ankur Warikoo was placed at the helm. According to information revealed by Sernac in the judicial action, during 2016 the service received numerous claims against Groupon. "Groupon Launches in Thailand". The IPO was handled by Morgan Stanley, Goldman Sachs Group and Credit Suisse Group. Groupon VIP edit On February 20, 2012, Groupon announced a "VIP Membership" program, with a membership fee of 30 annually.
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Boston, Gabriella (July 8, 2009). CEO and, pittsburgh native 12, andrew Mason. " Groupon Exits Sweden, Denmark, Norway and Finland In Ongoing Global Retreat." Nov 17, 2015. Retrieved December 12, 2011. "Groupon Goes International, Buys Japanese and Russian Clones". Retrieved November 4, 2016. 86 87 Groupon subsequently entered into the China market in a joint venture with Tencent and launched "Gaopeng". Retrieved "Ankur Warikoo, CEO Of Crazeal Talks Of Re-Branding And Road Ahead". 9 10 11, the idea for Groupon was created by now-ousted. Retrieved October 10, 2013. 150 Due to various economic factors and regulatory framework in China, local companies are more prevalent than Groupon, just as Baidu, Tencent and Renren control a larger market share than Google and Facebook.