Groupon will be one of those words to enter the new Oxford Dictionary to replace the word 'failure'
Groupon boss Andrew Mason has managed to hang on to his seat at the top, despite rumours that the board was considering giving him the boot. Reports that Mason's days might be numbered first appeared on AllThingsD, after which Mason said at a conference that he thought it would be strange if the board didn't consider sacking him …
I'm waiting for Groupon and Zynga to form a gruesome murder/suicide pact, then I can buy popcorn and watch the two spiral down the drain together.
"The board and the management team are focused on the performance of the company and they are all working together with heads down to achieve Groupon's objectives,"
So they'll be performing the archeo-Goth 80's dance style known as "Looking for Pennies" to the sound of Joy Division?
its business model starts to look shaky.
What is this "Starts"...
"If I ever thought I wasn't the right guy for the job, I'd be the first person to fire myself."
It is so heart warming to know that there are still humble people in this world. Especially around the hoildays.
You'll have to excuse him now...he has to go and give himself a raise, for the wonderful work he's done on the stock price this year.
I'm officially offering my services as the new CEO of Groupon at 80% off the rate the current CEO makes.
Expires Apr 3, 2013
Limit 1 per person, may buy 2 additional as gifts. Must sign waiver. Must be 18 or older. See the rules that apply to all deals.
groupon pets.com a decade later
Wow Mason is a one man cash machine. All he has to do is mention he might retire or have the board drop fire hints, dump some stock, and repeat every six months (oh wait only can do that a few more times before Chapter 11 I guess).
Just a bad idea
Whether they fire him or not is moot. The whole concept isnt an idea that really works on a scale to justify the expense.
First off, the profit margin is extremely low. So you need a huge amount of volume to make it work Second, companies do this in order to get people into their stores in the hopes those people will buy something else. The reality is: that doesn't happen; or at least it doesn't happen enough to justify the insane discounts necessary to even show up on a deal site.
So companies have "learned" to put black out dates or other restrictions on the offer which makes it not quite as appealing. People get screwed and bad mouth it. Which, is pretty much exactly what's happened.
The only other thing to do is to be a name brand that everyone recognizes. Unfortunately, everyone I know believes groupon is synonymous with Not a Good Deal and Waste O'Time.
Web Diarrhea Platform
Personally I see Groupon as belonging to the same group as social media platforms, Facebook, Google+ etc,
"full of promise but severely lacking substance."
Mason is laughing all the way to the bank whether Groupon succeeds or not, he has undoubtedly already received/pocketed a "large" sum of monies for his "undivided attention" and hard graft !!!!!
Mason himself being just another greedy bastard thriving on the ignorance of the population, his intention was never to provide good service and quality. It was to play the middle man for businesses whos profit margins were squeezed for Groupons benefit.
The middlemen really are the parasites of this earth, they do nothing substantial but manage to reap most of the profits.
Hmmm, Let's see. Shares in the gutter, check. Make company an easy takeover by another company, check. Rip off both company's money once this one is bought up, check! Yep, I am the man for this job........Can it be that company is nothing more than a ship of fools?