Yesterday, Groupon hit us with a massively disappointing first-quarter earnings report, which saw its stock tumble by over 25% after hours, and now CEO Andrew Mason is out. Someone had to take the fall, and the burden came on the shoulders of Mason, who'll be replaced in the interim by Ted Leonsis and Eric Lefkofsky while the board finds a new CEO. Mason released a letter to employees, and also made it public, admitting that he knew it would leak anyway--give it a read after the break.
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Andrew Mason, founder and CEO of Groupon, has issued an apology to customers in Japan by way of a YouTube video today. The apology is in relation to a New Years deal that ended up being a catastrophe. Food delivery business Bird Cafe has been featured on Groupon in the past, but the restaurant was overwhelmed by the volume of orders that came with the New Years osechi meal. Many meals were delivered late, while others were on time, but in "terrible condition." Groupon reimbursed all customers for the purchased and apologized in an email, but it's great to see Mason step up and personally apologize on video. Leaders of other companies might take notice--this is how you step up and own a mistake your company made.
Groupon is in the process of educating its merchants on "capacity planning" to avoid similar problems in the future.
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