Groupon names Amazon man as new CFO

Groupon has brought in a former Amazon.com executive as its new chief financial officer, the discount coupon provider said.

Jason Child, a former vice president of finance for Amazon's international business, took on the new role with Groupon yester-day.

Groupon turned down a $6bn buyout offer from Google earlier this month, according to media reports.

The Chicago-based company's viral couponing concept has been a hit, with annual revenue said to range from $500m (322m) to $2bn. It sends members daily e-mails with a variety of discounts. The deals are activated when a minimum number of people agree to make a purchase.

The company has discount websites for cities across the world including Leeds, York, Sheffield, Hull and Bradford.

Mr Child spent 12 years at Amazon after a seven-year stint at accounting firm Arthur Andersen.