Text: Groupon CEO's memo to staff - DC News FOX 5 DC WTTG

Text: Groupon CEO's memo to staff

Posted: Updated:

Groupon Inc. founder Andrew Mason sent a memo to employees after he was fired Thursday. Here's the text of his letter:

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.

Love,

Andrew

 

Copyright 2013 The Associated Press.

  • Your MoneyMore>>

  • Future of money

    Future of money

    Wednesday, April 16 2014 10:36 PM EDT2014-04-17 02:36:39 GMT
    These days, when you check out of a grocery store, your toughest choice might be cash or credit.  But in a few years, there may be no need to carry dollar bills, credit cards, or stacks of cash.  It might sound like the stuff of science fiction but futurist and social scientist Heather Schlegel says it's not.
    These days, when you check out of a grocery store, your toughest choice might be cash or credit.  But in a few years, there may be no need to carry dollar bills, credit cards, or stacks of cash.  It might sound like the stuff of science fiction but futurist and social scientist Heather Schlegel says it's not.
  • IRS considers taxing work freebies like food

    IRS considers taxing work freebies like food

    Wednesday, April 16 2014 9:11 PM EDT2014-04-17 01:11:44 GMT
    In competitive job markets like Silicon Valley, companies are doing everything they can to entice the best and brightest -- offering freebies that have become the stuff of legend.Employee perks like free food at lavish cafeterias, laundry and even yoga are not unheard of.  But the taxman could soon crack down.  The IRS reportedly is looking at these perks and seeing if these companies need to start paying up for the free stuff they offer employees.
    In competitive job markets like Silicon Valley, companies are doing everything they can to entice the best and brightest -- offering freebies that have become the stuff of legend.Employee perks like free food at lavish cafeterias, laundry and even yoga are not unheard of.  But the taxman could soon crack down.  The IRS reportedly is looking at these perks and seeing if these companies need to start paying up for the free stuff they offer employees.
  • Social streaming video from your iPhone with YEVVO

    Social streaming video from your iPhone with YEVVO

    Wednesday, April 16 2014 8:46 AM EDT2014-04-16 12:46:01 GMT
    We met YEVVO's 26-year-old co-founder and CEO, Ben Rubin, on a rainy day in Madison Square Park. Among the four of us (Ben, me, my photographer, and the representative from Ben's PR firm), we had four smartphones and the free app Rubin created."What if you were going live during this interview and then somebody [online] started asking questions and then [that somebody] actually helped to create the content?" Rubin asked.
    We met YEVVO's 26-year-old co-founder and CEO, Ben Rubin, on a rainy day in Madison Square Park. Among the four of us (Ben, me, my photographer, and the representative from Ben's PR firm), we had four smartphones and the free app Rubin created."What if you were going live during this interview and then somebody [online] started asking questions and then [that somebody] actually helped to create the content?" Rubin asked.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices