Groupon Co-Founder Eric Lefkofsky Doesn’t Sell Millions of Shares

He only transfered them. According to an SEC document filed on Friday, Groupon Chairman and co-founder Eric Lefkofsky distributed nearly 19 million shares from the daily deals company. The Wall Street Journal reports that the shares were dolled out members of an investment entity, including early employees, advisers and his family’s charitable foundation. A spokesperson for Lefkofsky, who controls 28 percent of the company’s voting power, confirmed he was not selling the shares. On Friday, those shares were worth about $77 million.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald