Local commerce giant Groupon is dealing with a lot of issues right now, with its stock price in free fall, slow growth and many of its investors heading for the exit doors.
The last thing the struggling daily deals company needs right now is another headache, but alas: German blogs Gruenderszene and VentureVillage are reporting that the co-founders of CityDeal, the Samwer-backed European clone that was acquired by Groupon in 2010, have decided to depart the company.
Groupon MD Thorsten Schröppe and Sebastian Schmidt have quit Groupon, joining the other two CityDeal co-founders Daniel P. Glasner and Philipp Magin in jumping the sinking ship.
In April 2012, Marc Samwer (the oldest of the three notorious Samwer brothers) also left his role as head of international operations at Groupon. CityDeal was originally incubated by Rocket Internet, the Samwers’ infamous startup cloning factory.
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You have to start wondering if Groupon will ever be able to bounce back.
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