The use of ACSOI came under scrutiny in August 2011, when it was revealed the company Groupon used the metric to present a net gain in operating income in their IPO filing.
When the company reported in the second quarter of 2012 that its revenues had declined along with customer growth and the amount of money existing customers spent on the site, Slate tech journalist Farhad Manjoo said Agrawal had been vindicated.
ChiTown Deals was a direct competitor in the deal-of-the-day group coupon marketplace pioneered by Groupon.
Groupon |
Since 1983, Accel invested in over 300 companies, including Facebook, Groupon, GetJar, Cloudera, AdMob, Dropbox, Trivone, 99designs, Glam Media, Spotify, Etsy, Angry Birds (Rovio), Braintree, Lookout, SunRun, TRUSTe, Kayak, Supercell, Macromedia, Medio, metroPCS, Code 42 Software, Flipkart and Walmart.com.
It was found that The Point – a social initiatives platform whose name was inspired by Malcolm Gladwell's The Tipping Point – was too abstract to market, and it was stripped down to the Groupon concept.
Companies and organizations such as Barclaycard, GoDaddy, American Greetings, Groupon, Hertz, Ogilvy, Sephora, Tesco, University of Phoenix, Tupperware, Waitrose, and JackThreads use Conversocial's Software as a Service to manage the flow of customer service enquiries and discussions on Facebook and Twitter.
In March 2011, Qwiki raised an additional $1 million from Groupon and Lightbank co-founders Brad Keywell and Eric Lefkofsky, bringing the total raised to date to $10.5 million.
Barris is currently on the Board of Directors of eight companies; Broadview Networks Holdings, Inc., Echo Global Logistics, Inc., Groupon, Hillcrest Laboratories, Inc., InnerWorkings, Inc., Jobfox, Inc., MediaBank, SnagFilms and Vonage Holdings Corp.
The Wrigley Building was sold in 2011 to a group of investors that includes Zeller Realty Group and Groupon co-founders Eric Lefkofsky and Brad Keywell.