In January, Groupon raised $950 million. By the end of March, it had $209 million in cash. What happened to all that money? The company’s IPO filing spells that out: Almost all of it went right back out the door, to employees and early investors. ... Of note: This wasn’t the first time Groupon had raised money and taken cash off the table. In April 2010, the company raised $130 million, and handed $120 million to many of the same people.
If it quacks like a Ponzi scheme...
Is there an open jail cell next to Bernie Madoff for this kind of pyramid scheming?
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