Groupon chief Mason keeps his job - despite rubbish share price 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 …
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.
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.
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.
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