The top sales executive credited with building Groupon’s national sales team has left the company, Groupon confirmed Friday. The departure of Lee Brown, head of national sales, came just two days after the Wall Street Journal reported that Groupon’s top saleswoman, Jayna Cooke, is also leaving the company.
Raj Ruparell, a four-month employee who was previously working on Groupon Goods, has replaced Brown effective immediately, a Groupon spokesperson confirmed. Brown joined the company in 2010 from Yahoo.
Following its initial public offering a little more than nine months ago, Groupon’s stock tanked 83 percent to an all-time low of $4.46 on Friday. Company stock spiked to $26.19 exactly two weeks after it went public and it has steadily declined ever since. Barely a year has passed since Groupon was routinely regarded as one of the fastest growing companies ever. The company, which gained prominence through its daily deals business, has suffered a series of key personnel departures and investors are reacting negatively to its latest earnings report.