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This article was published on September 6, 2012

Bad news for an already troubled Groupon: Another pair of CityDeal co-founders quit

Bad news for an already troubled Groupon: Another pair of CityDeal co-founders quit
Robin Wauters
Story by

Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

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.

You have to start wondering if Groupon will ever be able to bounce back.

Also read:

Groupon set to diversify into a ‘local trading place’

Groupon senior sales executive leaving – memo (Reuters)