entirely on group buying. 141 In December 2011 the Office of Fair Trading (OFT) launched an investigation into Groupon after the firm broke regulations 48 times in 11 months. Alexia Tsotsis (January 20, 2011). 88 of merchants agree that their Groupon deal brought in new customers, and 82 of customers say they are likely to return to the merchant again. M archiveurl missing title ( help ). 30-year-old CEO Andrew Mason. "The History of Groupon - Groupon Works".128 The class action lawsuit was settled on December 17, 2012. Alex Wilhelm, "Groupon's 260M Acquisition of Ticket Monster from LivingSocial Has Closed, TechCrunch, January 2, 2014. "Groupon Indonesia gets 500,000 daily visits, celebrates 3rd anniversary". The IPO was handled by Morgan Stanley, Goldman Sachs Group and Credit Suisse Group. When the company reported in the second quarter of 2012 that its revenues had declined along with customer growth and the amount of money existing customers spent on the site, Slate tech journalist Farhad Manjoo said Agrawal had been vindicated. He's on the cover of Forbes magazine labelled "The Next Web Phenom." Coburn, Marcia Froelke (July 14, 2010).