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It's pretty much what you'd expect a novice executive to say back then, when it was all about money and not at all about creating something good.

In July 2001, Ha-Lo filed for bankruptcy (under a new management, the company later emerged from bankruptcy as Halo Branded Solutions).

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.

Shareholders and others blamed the Starbelly deal, and a series of lawsuits ensued.

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.

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