It's only been two business days since Groupon (GRPN) filed its IPO papers with the SEC and the media has made up its mind: This is a bad company that looks like it's taking advantage of the bubble in tech stocks.
You probably already know that the company is horribly unprofitable and only appears to be a going concern because of accounting interpretations. But the devil is in the details -- and the details are even worse than the headlines suggest. Here are eight things wrong with Groupon, which the company must cure or address before it crashes and burns.
- Groupon IPO: Its "Income" Is Dependent on Dodgy Accounting
- Groupon Loses So Much Money, It Needs Its Own Daily Deals
- 6 Reasons Glenn Beck's New Coupon Venture Is Out of Its Depth
- Why the Groupon-Fueled Hyper-Local Ad Bubble Is Set to Burst