For those who are unfamiliar with the rapid growth that saw Groupon from being a small attempt to a large international entity, news of the ‘sacking’ of its CEO, Andrew Mason, drew loads of sympathy. Why would a company sack the very person who made the company successful, brought it from nothing to a company drawing $5 billion US Dollar every year (if not more in the future)?
In a way, it IS a sad thing for the unconventional leader of Groupon. It takes a creative individual to start something like this but sadly, it takes a more serious person to bring the company to its next, new level. He is widely known for not taking himself too seriously and have come up with more than his fair share of quirky solutions. Being a charming, funny and eccentric leader has its perks but as the company is preparing to woo Wall Street Investors, you see.
According to some sources, the time it took Groupon from rags to riches is the fastest known to this planet…YET. Faster than Facebook or any other online social media sites and companies, in fact. Instead of feeling sad for Mason who undoubtedly is going to miss trading his antics with his staff while working, he is going off with a huge sum of money as a ‘thank you’ gift.
On top of that, Mason’s had a fine time rolling in the dough (to the tune of billions) ever since the company went public. And besides, Mason and the other partners have not sold their shares in Groupon, therefore, he continues to have vested interest in the baby that he helped create. Ironically, by firing Mason, he is not only richer but also is retired; as in there is no work to tend to and yet the money continues to grow in his bank account.
Isn’t this everyone’s dream ‘job’?
So, anyway, Andrew Mason is not going to be nursing too many wounds after he is fired. Yes, I would say that he would miss his family of co-workers and Groupon as a whole because he would no longer have a say about how the company is steered. Let’s look at it this way, he now have all the time in the world, loads of cash to use his quirky character and unconventional methods to come up with something even more awesome in the near future.
As a bonus, here’s the letter he sent to his staff on the day he was relieved of his duty as the CEO of Groupon.****
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.
For those who are concerned about me, please don’t be – I love Groupon, and I’m terribly proud of what we’ve created. I’m OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. I’ll now take some time to decompress (FYI I’m looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe I’ll figure out how to channel this experience into something productive.
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.
More articles in this topic
Want to do something fun, exciting, meaningful and will go down in the history books in the next couple of days. Or perhaps, you are just as easily excited about QR Codes as we are. Either way, here is your chance to join a bunch of enthusiastic youth in making the world’s largest QR Code […]Read more
Hot Springs in Arkansas is bringing together history and sports in its latest tourism initiatives. Hot Springs has 26 sites that make up its famed Baseball Trail. These sites are marked by a special marker that commemorates why a certain place is special to the town and baseball. For example, one of the sites talk […]Read more
If for anything, Bitcoin is an interesting piece of currency. The virtual currency is now increasingly being used in real life. Some employees now accept Bitcoins as salary. Online shops and even brick and mortar retailers also see Bitcoins as legal tender that you can pay with. There are groups of ardent Bitcoin supporters as […]Read more
- NFC Payments and Other Mobile Payments to Bring in $1 Billion in 2013
- Help the Homeless Through QR Codes
- BeQRious' Top Stories for the Year and a New Barcode Scanner from Accusoft
- The End of iGoogle
- T-Shirts Encourage the Youth to Register
- NFC Partnerships: MacKay Meters and UIC; Etisalat and EIDA
- Mobile Marketing: Why It Makes Sense to Use Near-Field Communication and QR Codes
- Promotion Of Nightspots With QR Codes
- Google Buys QR Code-Based Punchd
- Optiscan – Hassle-Free QR Code Scanning For Iphone Users
Google Android news and discussion.
Deliver latest top technology stories and breaking IT news
Near Field Communication (NFC) news, ideas, projects and technologies.
QR Code, Datamatrix and other two dimensional barcode news and analysis.
Tips, advices, how-to's and DIYs for the latest technologies.