Author Topic: GRPN - Groupon  (Read 13916 times)

premfan

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Re: GRPN - Groupon
« Reply #20 on: February 27, 2013, 06:45:58 PM »
At first glance numbers look solid. Although, the international business is severely lagging behind the  north american business. Not sure if this a trend or just indicates how bad everything in europe is. I think the markets expectation is still too high for groupon. I'll have to study the numbers more and listen to the conference call. But overall the numbers at first glance look solid and the market is mainly reacting to the Q1 guidance.


hellsten

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Re: GRPN - Groupon
« Reply #21 on: February 28, 2013, 02:04:13 PM »
Quote
People of Groupon,
After four and a half intense and wonderful years as CEO of Groupon, Iíve decided that Iíd like to spend more time with my family. Just kidding - I was fired today. If youíre wondering whyÖ you havenít been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price thatís hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.
You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. Iím getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy weíve shared over the last few months, and Iíve never seen you working together more effectively as a global company - itís time to give Groupon a relief valve from the public noise.
For those who are concerned about me, please donít be - I love Groupon, and Iím terribly proud of what weíve created. Iím OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. Iíll now take some time to decompress (FYI Iím looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe Iíll figure out how to channel this experience into something productive.
If thereís one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on whatís best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness - donít waste the opportunity!
I will miss you terribly.
Love,
Andrew
Source http://news.ycombinator.com/item?id=5301146

stahleyp

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Re: GRPN - Groupon
« Reply #22 on: February 28, 2013, 02:26:15 PM »
"Iíve decided that Iíd like to spend more time with my family. Just kidding - I was fired today."

haha. epic.
Paul

Palantir

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Re: GRPN - Groupon
« Reply #23 on: February 28, 2013, 02:33:08 PM »
Brilliant. I love these guys and their sense of humor. Especially that "they cook a mean fish curry" Tibet ad.
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biaggio

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Re: GRPN - Groupon
« Reply #24 on: February 28, 2013, 04:32:59 PM »
Quote
People of Groupon,
After four and a half intense and wonderful years as CEO of Groupon, Iíve decided that Iíd like to spend more time with my family. Just kidding - I was fired today. If youíre wondering whyÖ you havenít been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price thatís hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.
You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. Iím getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy weíve shared over the last few months, and Iíve never seen you working together more effectively as a global company - itís time to give Groupon a relief valve from the public noise.
For those who are concerned about me, please donít be - I love Groupon, and Iím terribly proud of what weíve created. Iím OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. Iíll now take some time to decompress (FYI Iím looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe Iíll figure out how to channel this experience into something productive.
If thereís one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on whatís best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness - donít waste the opportunity!
I will miss you terribly.
Love,
Andrew
Source http://news.ycombinator.com/item?id=5301146

Refreshing for a change. Got to give him full credit.

premfan

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Re: GRPN - Groupon
« Reply #25 on: February 28, 2013, 07:19:52 PM »
 I feel this was a PR move due to the street absolutely hating the guy. I mean the guy started a business from 0-2.2 billion in revenue in 4 years and he gets the boot. That doesnt seem right to me.  The board gave in to the pressure of meeting the streets expectations and felt it needed a "public makeover". Groupon is in growth mode and it needs to balance growth with profitability. Which they were on the path to due to automation of the deal marketplace headed by mr.raman.  The board jumped the gun on this and it makes me question there focus on creating a unique platform. Companies like this need a long term focus and mindset. Firing andrew shows how short sighted this board is.  Pretty brutal when you start a company from bascially scratch to 2.2 billion and get the boot.

stahleyp

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Re: GRPN - Groupon
« Reply #26 on: February 28, 2013, 07:24:27 PM »
Oh man, this line was great, too.

"If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through"  ;D

I never did beat that game.  :'(
Paul

DCG

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Re: GRPN - Groupon
« Reply #27 on: March 01, 2013, 04:19:15 AM »
I don't think firing him was a good idea.

DCG

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Re: GRPN - Groupon
« Reply #28 on: March 01, 2013, 04:20:12 AM »
I feel this was a PR move due to the street absolutely hating the guy. I mean the guy started a business from 0-2.2 billion in revenue in 4 years and he gets the boot. That doesnt seem right to me.  The board gave in to the pressure of meeting the streets expectations and felt it needed a "public makeover". Groupon is in growth mode and it needs to balance growth with profitability. Which they were on the path to due to automation of the deal marketplace headed by mr.raman.  The board jumped the gun on this and it makes me question there focus on creating a unique platform. Companies like this need a long term focus and mindset. Firing andrew shows how short sighted this board is.  Pretty brutal when you start a company from bascially scratch to 2.2 billion and get the boot.

Exactly.

Palantir

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Re: GRPN - Groupon
« Reply #29 on: March 01, 2013, 07:29:22 AM »
Yeah, this is really disappointing. I understand the concern over making a loss. But by the CF statement, they made 200M in FCFE, while holding ZERO debt. I don't think they were doing that badly at all. Or am I totally off here?
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