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At first, the company -- like Groupon -- saw fast growth, with revenue rising from million to million. “We over-leveraged the company and it eventually crumbled under the weight of that debt,” Lefkofsky wrote.
Lawsuits unleashed The risk of failure is inherent to entrepreneurialism.
Alpert wrote a devastating piece that eerily prefigured the concerns surrounding Groupon's IPO.
Eric Lefkofsky is the co-founder and chairman of Groupon, which filed last week for an IPO valuing the company at billion, as well as its largest shareholder, with a pre-IPO 22% stake in the company.
Inner Workings (inwk), which provides print-procurement services for companies, went public in August 2006, selling 7 million shares at a share.
(The stock closed at .21 Wednesday.) Today, Inner Workings is a company with annual revenue of 0 million.
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And again, lawsuits followed, including a class-action suit naming Lefkofsky as a defendant.