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Thread: Andrew Mason No More Groupon CEO Due To Poor Financial Results

  1. #1
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    Andrew Mason No More Groupon CEO Due To Poor Financial Results

    Groupon i remember was flying a couple of years ago and very quickly became fastest growing and big company. It was such a charm that yahoo did offered to buy Groupon (as far as i remember) but now due to lower than expected financial results its CEO Andrew Mason will step down as CEO of Groupon . Now lets see who will come. My personal point of view is that the groupon was among the first one to start this sort of local deals.

    Many company followed Groupon and Google have also dived in this pond of money making through local deals although they are only limited to few cities. But no company now can make it to the top quickly in this local deals market as it is sort of saturated. I want to know what you guys think of this CEO change.

  2. #2
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    Quote Originally Posted by gostoo View Post
    Groupon i remember was flying a couple of years ago and very quickly became fastest growing and big company. It was such a charm that yahoo did offered to buy Groupon (as far as i remember) but now due to lower than expected financial results its CEO Andrew Mason will step down as CEO of Groupon . Now lets see who will come. My personal point of view is that the groupon was among the first one to start this sort of local deals.

    Many company followed Groupon and Google have also dived in this pond of money making through local deals although they are only limited to few cities. But no company now can make it to the top quickly in this local deals market as it is sort of saturated. I want to know what you guys think of this CEO change.
    I never understood how they thought this whole program would be sustainable in any long term way. They were essentially coercing the advertisers to give away their products/services at a loss, then taking a steep fee from them to advertise with them. The advertiser was completely losing out and greatly devaluing their products/services in the process.
    eatmintgood likes this.

  3. #3
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    I read his last memo to the employees of Groupon online. Class act.

    I'm not really sure how Groupon can turn around their situation.

    As for the advertisers, Groupon should be used as a loss leader to convert the customer into a long term customer. If they can't do that, then there's no point in using Groupon or even other sites like it to generate customers.
    stalsi likes this.

  4. #4
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    The point of Groupon was to get new customers in to their businesses where they will use the groupon and hopefully spend more while they were there. Yes they were giving away a little but if things went the way they would hope they would profit overall. How many of you have gone into a business because of a deal and ended up spending more than you thought you would? I know I have. Groupon was a good deal for both customers and the companies on groupon. I am surprised that their revenue is down as I use the site often.
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  5. #5
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    Re: Andrew Mason No More Groupon CEO Due To Poor Financial Results

    I'm disappointed in the decision for Andrew Mason leaving Groupon, but am I surprised? No. Groupon never really served a good, viable service that I could go to, to find anything that I really needed. Also, I think they have a bad flaw in their actual business plan.

  6. #6
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    Re: Andrew Mason No More Groupon CEO Due To Poor Financial Results

    I've never been a fan of Groupon. They didn't offer many coupons for services or products that the everyday / average Joe could use. It was mostly exclusive stuff. The only way they can improve is to expand their offerings and expand their city-base to include smaller areas.

  7. #7
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    Re: Andrew Mason No More Groupon CEO Due To Poor Financial Results

    Quote Originally Posted by Realitytvaddict View Post
    The point of Groupon was to get new customers in to their businesses where they will use the groupon and hopefully spend more while they were there. Yes they were giving away a little but if things went the way they would hope they would profit overall. How many of you have gone into a business because of a deal and ended up spending more than you thought you would? I know I have. Groupon was a good deal for both customers and the companies on groupon. I am surprised that their revenue is down as I use the site often.
    It seems that most of the companies on Groupon weren't able to get the customers to buy anything else or become long term customers. It would have been wise if Groupon had educated the companies that signed up with them, how to take advantage of the program. If the companies didn't feel like they were benefiting, then they won't consider to use the service. If they can find a way to prove their benefit to companies, then they maybe able to turn the business around.

 

 

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