Groupon product chief Jeff Holden to depart next month

Jeff Holden

Jeff Holden

Groupon product chief Jeffrey Holden is leaving the daily deals site effective March 18, according to a SEC filing posted today. No reasons were given on why the former Amazon exec is stepping down from the role, though we’ve reached out to Groupon for more details.

Crain’s reports that Holden is leaving for an undisclosed company, one of which is not directly competitive with Groupon. (That rules out a return to Amazon, I would think).

Holden joined Groupon after his Seattle startup company, Pelago, was acquired in 2011. He’s one of a number of former Amazon executives now working at Groupon’s headquarters in Chicago.

Ex-Amazon.com VP CEO Kal Raman serves as COO, while former Amazon.com finance chief Jason Child serves as CFO. Just last October, Groupon hired former Amazon exec Robbie Schwietzer as vice president of operations.

Meanwhile, Groupon also is expanding fast at its offices in Seattle’s International District, under the direction of former Amazon.com manager Vinayak Hegde. It now has more than 125 staffers in the Seattle office.

Groupon’s stock is up more than 100 percent in the past year, and it now has a market value of $7.4 billion (more than the $6 billion that Google reportedly offered to pay back in 2010).

Holden — who received his computer science degree from the University of Illinois at Urbana-Champaign — worked at D. E. Shaw & Co. from 1992 to 1997 before joining Amazon in 1997 (the year Amazon went public).

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  • Jim Jones

    Groupon is circling the drain. Jeff fashions himself as the smartest guy in the world (just ask him or wait for him to tell you) but I guess even his level of genius couldn’t overcome the obstacles of a bad value proposition for retailers and consumers alike.