On Monday, news surfaced that Faisal Masud, the vice president of Groupon Goods, is on his way out of the Chicago-based daily deal company.
Daily Deal Media reports that Masud’s departure will likely occur later this month.
Groupon Goods was launched in 2011 and it’s the daily deals first push into a more traditional e-commerce. The branch sells discounted goods from companies like Dell and is separate from Groupon’s traditional local coupon business.
Masud was hired in 2012 after he left eBay in order to help build Groupon Goods.
“As we’ve discussed before, growth of Goods … has impacted our overall margins as it has grown materially over the last few quarters, reaching an impressive $2 billion annual billings run rate in Q4,” former CEO Andrew Mason said in February during Groupon’s Q4 of 2012 earnings call.
Unnamed sources close to the developing story suggest that Masud has already accepted a new position with Staples.