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Groupon CEO: 'I was fired'

Original post made on Mar 1, 2013

After a poor earnings report sent Groupon's stock down by 24 percent, the company fired its CEO, Andrew Mason, Thursday, according to a letter to Mason wrote to employees in a surprisingly candid tone.

Read the full story here Web Link posted Friday, March 1, 2013, 9:43 AM

Comments (11)

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Posted by Observer
a resident of Another Palo Alto neighborhood
on Mar 1, 2013 at 9:58 am

Mr. Mason should seek employment in the public sector for his next job. Poor performance is not a reason for dismissal in that domain.

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Posted by incompetent millionaire
a resident of Adobe-Meadow
on Mar 1, 2013 at 10:08 am

Like many other corporate executives, Andrew Mason got in over his head and his arrogance and stubbornness ruined not just his job but also the jobs of hundreds of others.

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Posted by Chris Zaharias
a resident of Crescent Park
on Mar 1, 2013 at 10:55 am

The guy said he's accountable, but he should've said he's at fault - that would've actually been candid. His letter was the departure letter equivalent of settling out of court while not admitting guilt.

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Posted by neighbor
a resident of Another Palo Alto neighborhood
on Mar 1, 2013 at 1:36 pm

This is a smart guy and he will rise again, like many other tech founders.

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Posted by Candida
a resident of Crescent Park
on Mar 1, 2013 at 1:56 pm

Any tech company with its main office in Chicago -- no wonder they didn't have the brains to succeed. Jeez, is this Silicon Valley elitism speaking?

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Posted by Janeq
a resident of Green Acres
on Mar 1, 2013 at 2:55 pm

I wish him well. With what Obama has done to our economy, how is any company to guarantee anything

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Posted by incompetent millionaire
a resident of Adobe-Meadow
on Mar 1, 2013 at 3:16 pm

How quickly the Fox News fans are brain washed. The economy crashed under George Bush. Obama has brought the stock markets back to near record highs.

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Posted by Mike
a resident of University South
on Mar 1, 2013 at 3:59 pm

I can only assume Mr. Mason is a millionaire several times over and received an obscene severance. Please tell me I am wrong.

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Posted by Leonard
a resident of Old Palo Alto
on Mar 2, 2013 at 8:26 am

Coupon will be history by the end of 2014.

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Posted by Ladera Cyclist
a resident of Portola Valley
on Mar 2, 2013 at 10:32 am

He made plenty of money from the IPO, but his severance was less than $400 (plus six months of health benefits). See:

Web Link

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Posted by Cedric de La Beaujardiere
a resident of Barron Park
on Mar 4, 2013 at 12:54 am

Cedric de La Beaujardiere is a registered user.

I recently watched a program on KQED Channel 9 about early silicon valley entrepreneurs, maybe it was "Something Ventured (Web Link). Anyway, one of the people interviewed said something to the effect that original founders of companies rarely last long in their position after the company either gets venture capital or goes public (I don't recall which, probably the later). It's probably a very different skill set to come up with a good idea and make it happen, than to create and run a company, and set and meet quarterly goals. It must be traumatic to be pushed out of the company one has created. Presumably, that trauma is assuaged somewhat if one has gotten millions of dollars through the venture.

The article Ladera Cyclist linked to says, "It's unclear why the famously quirky Mason chose the strangely precise figure of $756.72" for his annual salary. I notice that (7+5)*6=72, though that doesn't explain anything.

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