With a whopping loss of $81 million and stock prices dropping – it was no surprise the charismatic CEO Andrew Mason of Groupon was fired. In true fashion, Mason released a statement to the employees stating “I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today…If you’re wondering why… you haven’t been paying attention.”(Huffington Post)
Groupon still has some challenges to overcome-merchants continue to be concerned about how much they will reap from each deal as well as repeat business. According to Groupon’s press release “Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future,” said Vice President Ted Leonsis.
For AZ Groupon goers, deals will continue to flow-but the future is unclear whether the change in leadership will deter or encourage consumers to return to Groupon. Meanwhile, Living Social – a rival to Groupon – continues to capture the attention of deal goers.