Watch LIVE

Ousted Groupon CEO's 'I Was Fired' Letter Is Pretty Awesome

News

"I'm looking for a good fat camp to lose my Groupon 40."

Ousted CEO Andrew Mason. (CNN Money)

It’s no secret that online deal site Groupon has been struggling.

Indeed, between SNAFUS involving participating businesses, losing $81 million in Q4 of 2012, and seeing their stock value plunge by 26 percent on Thursday, it was only a matter of time before the group ousted CEO Andrew Mason.

And they did.

However, rather than storm off and create a scene, Mason dealt with his firing with humor and grace.

"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,” he wrote in a letter to employees that he posted publicly on Jottit. “If you're wondering why... you haven't been paying attention.”

“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,” he adds, referring to the popular 1991 video game, “it would be like I made it all the way to the Terra Tubes without dying on my first ever play through.”

He added a little more humor: "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."

Here’s his full letter to Groupon employees:

This is for Groupon employees, but I'm posting it publicly since it will leak anyway)

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

--

RELATED:

Follow Becket Adams (@BecketAdams) on Twitter

Featured image courtesy Associated Press.

Most recent
All Articles