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Groupon Removes Andrew Mason as CEO
Posted on 2/28/13 at 3:47 pm
Posted on 2/28/13 at 3:47 pm
quote:
Shares surged 13 percent in late trading after the change was announced.
This move is about one year too late IMHO. How long until they are acquired by goog or amzn?
LINK
5
Posted on 2/28/13 at 3:49 pm to Notro
About damn time. That is the trouble with startups. The founder is usually some nerdy hippie with a great idea. But usually they are not ideal for a publicly traded company.
Posted on 2/28/13 at 3:50 pm to Notro
quote:
Groupon Removes Andrew Mason as CEO
quote:
Shares surged 13 percent in late trading after the change was announced.
Ouch! How would you like to be fired and then see the company's stock go up 13% when it's announced?
This post was edited on 3/1/13 at 8:29 am
Posted on 2/28/13 at 3:51 pm to Notro
quote:
Shares surged 13 percent in late trading after the change was announced.
So, its halfway back to where it started the day....
Posted on 2/28/13 at 6:22 pm to OnTheBrink
quote:
"After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family. Just kidding - I was fired today," Mason said in an email to employees announcing his departure.
Hahaha yes
Posted on 2/28/13 at 6:31 pm to LSURussian
quote:
Ouch! How would like to be fired and then see the company's stock go up 13% when it's announced?
Forget the company stock, how did bitcoins move on the news?
Posted on 2/28/13 at 7:45 pm to lsu_tiger_az
Considering he is a major stockholder, he probably found that as good news...
Posted on 2/28/13 at 10:56 pm to cjared036
Dumb arse should have sold when they offered him 6 billion dollars for it.
Posted on 2/28/13 at 11:45 pm to Notro
Has to be one of the all time worst CEOs and worst business models.
Posted on 3/1/13 at 8:17 am to jso0003
Did anyone read his memo to the employees? At least he didn't go out like a whiney bitch
quote:
People of Groupon,
After four and a half intense and wonderful years as CEO of Groupon, I've decided that I'd like to spend more time with my family. Just kidding - I was fired today. If you're wondering why... you haven't been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that's hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.
You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. I'm getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy we've shared over the last few months, and I've never seen you working together more effectively as a global company - it's time to give Groupon a relief valve from the public noise.
If there's one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on what's best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness - don't waste the opportunity!
I will miss you terribly.
Love,
Andrew" ]
Posted on 3/1/13 at 11:45 am to lsu_tiger_az
quote:
Forget the company stock, how did bitcoins move on the news?
AND MY STUPID DANG MINER IS STILL SEEDING!
Posted on 3/1/13 at 11:46 am to Notro
quote:
How long until they are acquired
This financial year. I see Amazon making a bigger move at trying to buy them then google.
Posted on 3/1/13 at 12:03 pm to CajunFootball
I could see Amazon as well trying to push the Amazon Local page
Posted on 3/1/13 at 12:12 pm to BACONisMEATcandy
quote:
I could see Amazon as well trying to push the Amazon Local page
If so, I need to sell Amazon now. I don't trust that business model one bit.
Posted on 3/1/13 at 12:14 pm to C
I'd hang onto Amazon. Their business model is different, but I don't see any negatives for them in the future. They still look to be trending upward.
Posted on 3/1/13 at 12:19 pm to C
Meh... it's a subsite of Amazon... I personally don't see a problem with Amazon hanging on to it 
Posted on 3/1/13 at 1:11 pm to BACONisMEATcandy
The one thing Groupon did right.
LINK
quote:
James Mason, Groupon's ousted CEO, is getting a severance of just $376.36 from the company he founded back in 2008, CNN Money reports. "Groupon's (GRPN) IPO filing details his employment agreement, which calls for Groupon to keep paying his salary for six months after he leaves the company," writes CNN Money. "Because Mason was making only $756.72 per year, that doesn't amount to much."
LINK
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