Today in Tech: Is Groupon running out of money?

August 18, 2011: 3:30 AM ET

Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day. 

* Is Groupon running out of money? Henry Blodget over at Business Insider does the math and concludes -- among other things -- that as of June 30, the leading daily deal site owed $392 million to merchants for sold Groupons, significantly more than the $225 million of cash the company had on hand. (Business Insider)

* A week after announcing an $11.8 million loss during its most recent quarter, AOL (AOL) CEO Tim Armstrong explains why his company's turnaround will take until 2013. (The New York Times)

* Andy Miller, Apple's (AAPL) head of mobile advertising, is leaving the company to join venture capital firm Highland Capital Partners. Meanwhile, Louie Manta, a visual interface designer on the iTunes Design team, is leaving for credit startup Square. (Fortune and 9 to 5 Mac)

* Facebook co-founder Chris Hughes sold his activism-focused social network Jumo to GOOD, a digital media platform, for what basically amounts to $0. (BetaBeat)

* Actor-turned-angel investor Ashton Kutcher guest-edited a large chunk of Details magazine's social-focused September issue. Check out some of the results, including a round-up of entrepreneurs dubbed, "The New Titans of Tech." (Details)

Don't miss the latest tech news. Sign up now to get Today in Tech emailed to you each and every morning.

Join the Conversation
About This Author
JP Mangalindan
JP Mangalindan
Writer, Fortune

JP Mangalindan is a San Francisco-based writer at Fortune, covering Silicon Valley. Since joining in 2010, he has written on a wide array of topics, from the turnaround of eBay to the evolution of net neutrality. A graduate of Fordham University, Mangalindan has also written for GQ, Popular Science, and Entertainment Weekly.

Email JP
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.