Daily deals website Groupon announced today that the company has hired its very first full-time accountant.
24 year old Matt Parker, a recent accounting graduate of the University of Wisconsin, has been brought on board to begin recording Groupon's financial transactions for the brand new bookkeeping department.
Since its IPO in Novemmber, 2011 Groupon has been buffeted by a number of embarrassing accounting scandals and there has been growing concern over the sustainability of its business model.
The stock has fallen from a high of $26 to under $5, and analysts are questioning how long the firm can survive.
Dumbest Guy in The Room
Groupon CFO Jason Child, however, says its accounting woes are just a question of insufficient manpower. In a statement posted on its investor relations website, Child welcomed the new recruit, and brushed aside concern that the move is too little too late for the embattled company:
"Matt has taken over 40 credit hours of intermediate accounting, including two courses on bookeeping. I'm sure he'll be able to sort out whatever concerns our investors may have over our accounting practices."
One former Groupon executive, however, is less sanguine about the company's future:
"Their name rhymes with Enron for a reason."
