Boston, MA 10/15/2013 (wallstreetpr) – Groupon Inc (NASDAQ:GRPN) has decided to keep its technical team up-to-date as it is on hiring spree on this front. On Thursday, the company announced three new engineering hires who will be based in Palo Alto, CA office, the place where the company’s large part of the technical operations are carried out. All the new hires will report to the company’s Senior Vice President of Engineering and Operations.
The three new hires include Brian McCallister, Stephen Deasy and Pete Webb. McCallister will join as CTO of the platform and he comes from Ning.WhileDeasy,who joins from VMware will occupy the position of the VP of Infrastructure and Data Platform at Groupon. Pete Webb was Head of Operations at Flipboard Inc. will join Groupon as VP Global Production Operations.
Despite of Groupon’s announcement of new hires, the stock prices continue to be under pressure. In Monday’s trading, GrouponInc (NASDAQ:GRPN) dropped by 0.99%. The opening price of the shares was recorded at $10.82, which climbed to an intra-day high of $11.10 but fell to close at $11.01. On the day, approximately 13.09 million shares were traded. The 52-week low of Groupon is $2.60 and its 52-week high is $12.76. The company has a market capitalization of $7.33 billion while its earnings per share is at (0.15).
About the company
Groupon Inc (NASDAQ:GRPN) functions as an e-commerce market-place, which offers goods and services to its subscribers at a discounted rate and unites thousands of the merchants to the consumers. Groupon e-mails its subscribers informing them of the discounted-offers on the basis of each customer’s personalpreference and location. It also offers its consumers to access its deals via mobile apps and Websites. Customers buy Groupons from the site and then redeem at the merchant stores.
Groupon Inc. has its operations running from two business segments, one in North America, which represents the U.S and Canada; and the second International, which is the rest of the company’s global operations.
