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Groupon Still Losing Money, CEO Is Fired And Leaks Final Email

Posted by ryuzaki0 on from the can't-even-use-the-subjunctive dept.

New submitter Inzkeeper writes with news that the CEO of Groupon met the axe today: "Groupon CEO Andrew Mason made public an email he sent to Groupon employees. He takes responsibility for the company's downturn, expresses his appreciation for his staff, and wishes them well. '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.'" Despite increased revenues, they are still losing about $81 million each quarter, and Wall Street needs blood.

3 of 207 comments (clear)

  1. On the other end... by zoffdino · · Score: 5, Insightful

    There's a company that pumped the highest profit in a quarter without pumping oil. Massive cash pile, no debt. And Wall Street continues to punish it. Wall Street wants bloods.

  2. Re:If Groupon was Battletoads by fuzzyfuzzyfungus · · Score: 5, Insightful

    I'm pretty sure that 'being CEO of a company built on skimming a percentage of the profits from businesses willing to lose money and make it up in volume' is epic trolling on a scale that most trolls will never even be able to dream of...

  3. Re: For those who are concerned about me by multiben · · Score: 5, Insightful

    Harsh. It may be convenient to group people into nice neat categories eg. "All CEOs are terrible people with no feelings", but in reality the world is a much more varied place.