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Why Andrew Mason was Let Go from Groupon
Why was Andrew Mason let go from Groupon? It’s only too clear if you own their stock.
Andrew Mason failed as a CEO.
What’s nice about Andrew is that he admits it. In a statement that he gave to the employees Andrew writes, “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.”
Thank you Andrew for being honest and upfront about it.
Andrew even compares his experience to the game Battletoads
Groupons earnings were down. Wall Street analyst expectations were 640 million and they were at 638 million. and there was a fourth quarter GAAP loss of 12 cents a share – In short they lost 81.1 million dollars. See more here
Andrew Mason did not meet their expectations and was fired.