In it, Mason claims responsibility for missing expectations and the company's stock price, and says that a "fresh CEO" earns the company a chance at a second chance.
Mason also shows a geeky, youthful spirit, making the comparison of running the company this far to the popular, though notoriously difficult 1991 video game Battletoads.
You can read the whole memo below, which Mason linked to in a Tweet:
(This is for Groupon employees, but I'm posting it publicly … Read more
The company announced the management change in a terse statement this afternoon. It said that Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis would participate in a newly created Office of the Chief Executive, effective immediately, serving in this role on an interim basis until the board finds a CEO replacement.
"On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity, and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, … Read more
DailyDeal is now back in the hands of its original owners.
The German daily deals site broke the news on its home page today, announcing that founders Fabian and Ferry Heilemann repurchased the site from Google.
A Google translated version of the deal offered the full scoop:
We are pleased to inform you today that we bought back the company as founder and CEO of Daily Deal and Google will now continue on their own. Daily Deal will of course continue the usual services and exciting offers -- just as we have done in the past. In addition, we will … Read more
"This investment is a tremendous vote of confidence in our business from the people who know us best, our current board members and investors," he said in a memo viewed by CNET. "They have reviewed our plans for 2013, and they are enthusiastic enough to want to commit additional financial resources through this round."
The financing followed a "competitive process" in which … Read more
Groupon has suspended all of its gun-related promotions, a move that has led some gun-rights advocates to call for a boycott of the daily deals site.
"All scheduled and current gun-related deals featured on Groupon North America, including shooting ranges, conceal-and-carry and clay shooting, have been placed on hiatus while we review internal standards that shape the deal inventory we feature," Groupon spokeswoman Julie Mossler told AOL Daily Finance in a story published Sunday. "The category is under review following recent consumer and merchant feedback."
Although the move is presumably in reaction to last month's … Read more
For Groupon Chief Executive Andrew Mason, there are a lot more questions than answers.
The young executive wasn't exactly verbose during an interview today with Fast Company's E.B. Boyd at the Mobile Loco conference in San Francisco. It was evident pretty quickly (aka after the first question) that there are a lot of things he's not really interested in chatting about right now.
He didn't want to talk about the rumor that Google was interested in buying Groupon, and he didn't want to broach the topic of possibly being acquired by someone else. That'… Read more
Groupon, the company that made daily deals popular for consumers, has had a tough tumble. After finally going public late last year, the company faced massive competition, slowed growth in revenue and a decimated stock in 2012. In its early days, Groupon was a tech superstar, charging along on a mission to become the fastest-growing company in history. But as the months passed, the company was plagued by slumping stock, a shareholder lawsuit and the rumored unrest from employees trying to leave the company.
Much of the blame has fallen on the shoulders of CEO Andrew Mason, who once had … Read more
Groupon said today it has no plans to replace CEO Andrew Mason after its board met to discuss whether senior management changes were necessary at the struggling daily deals company.
Unhappy with the Chicago-based company's plummeting stock value, Groupon's board of directors were reportedly looking to make leadership changes at the top, including the option of bringing in a more experienced CEO to replace Mason, one of the company's co-founders. After the meeting concluded, the company announced that Mason would remain as CEO.
"The board and the management team are focused on the performance of the … Read more
Groupon announced a partnership with Major League Baseball today, promising discounted game tickets and exclusive perks for all 30 of the league's teams.
The multi-year agreement with MLB's media arm is good news for the daily deals company, which has had trouble convincing Wall Street of its worth. It's a big name for Groupon to add to GrouponLive, its local live entertainment offerings, and builds on Groupon's baseball game discounts offered during the regular 2012 season and the post season.
GrouponLive General Manager, Greg Rudin said fans can expect exclusive access, luxury seats, and clubhouse and … Read more