People of Groupon,
After four and a half intense and wonderful years as CEO of
Groupon, 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. From controversial metrics in our S1 to our material weakness to two
quarters of missing our own expectations and a stock price that's 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. I'm getting in the way of that. A
fresh CEO earns you that chance. The board is aligned behind the strategy we've
shared over the last few months, and I've never seen you working together more
effectively as a global company - it's time to give Groupon a relief valve from
the public noise.
If there's 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 what's best for our customers. This leadership change gives you some
breathing room to break bad habits and deliver sustainable customer happiness -
don't waste the opportunity!
I will miss you terribly.
Love,
Andrew" ]
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