Groupon (NASDAQ:GRPN) can use some stability. Since coming public about a year ago, the stock has seen its shares go from $26.90 to $2.80.
One big issue has been the company’s complexity: It spans across 48 countries. CEO and co-founder Andrew Mason is only 31 years old and has no prior corporate experience.
To deal with this, Groupon has named Kal Raman to take the reins of chief operating officer. He’s a veteran in e-commerce, having been an executive at companies like eBay (NASDAQ:EBAY) and Amazon (NASDAQ:AMZN). Raman also has extensive experience in global markets.
Keep in mind that Groupon has been without a COO since September 2011. So, it looks like the company has been thoughtful about choosing Raman — which is certainly an encouraging sign.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.