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"I was fired today," writes Andrew Mason in a candid memo about Groupon's (GRPN) CEO change....

"I was fired today," writes Andrew Mason in a candid memo about Groupon's (GRPN) CEO change. "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." He says his "biggest regrets are the moments that I let a lack of data override my intuition on what's best for our customers." Shares now +5.5% AH.
Comments (7)
  • wigit5
    , contributor
    Comments (4214) | Send Message
     
    Wow
    28 Feb 2013, 04:42 PM Reply Like
  • activistinvestor
    , contributor
    Comments (52) | Send Message
     
    I made this prediction yesterday after earnings as a catalyst for the stock on Yahoo. The institutional investors had enough. will see how the market digests this.
    28 Feb 2013, 04:45 PM Reply Like
  • pman6
    , contributor
    Comments (270) | Send Message
     
    pump and dump !
    28 Feb 2013, 04:49 PM Reply Like
  • Matt Jonza
    , contributor
    Comments (86) | Send Message
     
    could have been fired sooner haha
    28 Feb 2013, 05:35 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    JCP CEO next
    28 Feb 2013, 07:08 PM Reply Like
  • sterlman1
    , contributor
    Comments (7) | Send Message
     
    Groupon takes 35-40% of the price the consumer pays? I went to a nice French Restaurant (in NYC) the Saturday after Valentines Day. The Groupon was $42. The meal included 1 appetizer, two entrees AND a bottle of French wine. I added an appetizer, but was not allowed to add the difference for a nicer bottle of wine. I didn't see how the restaurant made a profit. Not sure that this is profitable enough for the merchants. I came close to investing @ $5.60. Glad I didn't. PS, the food was very good!
    1 Mar 2013, 06:21 AM Reply Like
  • activistinvestor
    , contributor
    Comments (52) | Send Message
     
    Example: No one complains about Apple's overpriced products and how much they take from the consumer. Apple also takes a huge percentage from the carriers for their devices. This is business and people still purchase products. The same with Groupon. Groupon reported record billings obviously because people believe in their product. Now what management did behind the scenes and shared profits is another story. I am sure they had their reasons as sometimes in business management has to make a "business decision." Unfortunately for Groupon, they are a public company and that comes with so much commentary and Monday morning quarterbacking. At any rate Amazon, Google and now FB are very interested in the daily deals space. Amazon (living social), Google (Google Deals). FB wants in...Like it or not. Groupon is the leader. The first catalyst is there with the Ousting of the CEO. Maybe now the company gets sold or they steer this ship in the right direction. I find it interesting that AMZN missed on top and bottom line earnings. People reacted positively raising the share price. You can make any argument you want about AMZN being different or they don't concentrate on profits and want to grow revenue for later profits. At the end of the day, guys/gals bash what everyone else bashes. In trading we must be independent thinkers not followers. Much success in 2013!
    1 Mar 2013, 09:28 AM Reply Like
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