Eric Lefkofsky is the chairman of Groupon (
), and it isn't entirely clear that he feels the pain other
shareholders are experiencing. The latest evidence: the
Wall Street Journal
reported that he's poaching Groupon's top salesperson for another
one of his ventures.
That seems weird for a guy who's still a big shareholder,
right? Surely he must be tearing his hair out about the falling
He's not -- because he already made a lot of money. And let's
In November 2009, a few months after Groupon's group-buying
concept started making headlines, Lefkofsky and his wife took $12
million in dividend payments.
In April 2010, as word of the deal site spread to national
media outlets, they sold $67 million worth of stock.
In December 2010 and January 2011, as a potential initial
public offering approached and after Groupon was touted by the
as the fastest-growing company ever, they cashed out $319 million
worth of stock.
So that's $398 million, all in.
has already pointed out that his transactions were
"unconventional." And there's another note in the S-1 that makes
you wonder, especially at this point, if he had mentally checked
out even before the IPO. In the section that outlines risk
factors, he seems decidedly noncommittal about the whole
endeavor. In Groupon's words: "Although Mr. Lefkofsky
historically has devoted a significant amount of his business
time to Groupon, he is under no contractual or other obligation
to do so and may not do so in the future." Also: his other
investments "may be in areas that present conflicts with, or
involve businesses related to, our operations."
Ok, then, Eric. See you around.