Groupon's Top Tech Guy Is Leaving And The Stock Dropped 8% On The News
Holden worked at Groupon for nearly three years, after joining the company when Groupon bought Pelago, where he was CEO, in 2011. Holden held a key position at Groupon and was lauded for his understanding of consumer buying behavior.
Before Pelago, Holden worked at Amazon for eight and a half years, leaving the company as the SVP of "worldwide discovery."
Although we don't know why Holden is leaving or where he is going, Crain's reports that he won't be joining a competitor.
Sterne Agee analyst, Arvind Bhatia, calls this move a "mild negative" for the company.
"The timing of the announcement adds to our existing concerns regarding 4Q trends," Bhatia wrote in a note to investors.