The exit letter written by the former CEO is hilarious:

 

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.

 

HAHAHA.

 

http://blogs.wsj.com/digits/2013/02/28/groupon-is-replacing-ceo-andrew-mason/

 

 

It is a whimsical letter. The guy has a good attitude about things.

I agree, that guy has a good attitude and sense of humor (doesn't harm that he's probably very rich). Also, I didn't realize that Groupon was struggling.

I agree, that guy has a good attitude and sense of humor (doesn't harm that he's probably very rich). Also, I didn't realize that Groupon was struggling.

 

When was it ever flourishing? They haven't had a profit in the last few years.. I noticed their expenses is high, and they have offices in foreign countries.. Do they NEED those offices? They have no long-term debt, so managing and making difficult decisions to cut back expenses be the best way to go to improving their cash flow from operating activities. Where can I apply to be the next CEO? Even if I fail, I'll write a humorous letter to my fellow workers to continue the tradition.

When was it ever flourishing? They haven't had a profit in the last few years.. I noticed their expenses is high, and they have offices in foreign countries.. Do they NEED those offices? They have no long-term debt, so managing and making difficult decisions to cut back expenses be the best way to go to improving their cash flow from operating activities. I disagreed with their decision to issue preferred stock (it on their balance sheet) I think they got suckered into a sales pitch by some investment banker. Where can I apply to be the next CEO? Even if I fail, I'll write a humorous letter to my fellow workers to continue the tradition.

 

I figure as much as my wife has used Groupon, they should be in great shape!! LOL

I figure as much as my wife has used Groupon, they should be in great shape!! LOL

I never cared for Groupon, but the letter from the former CEO just made me laugh. I love businessmen with a sense of humor. You guys ever know what Mark Zuckerberg, the CEO of Facebook, once had on his business card in the early days? I would so write the same thing if I was ever in his position one day. Enron wrote Star Wars' characters as account titles on their book. I wondered a few months ago if I write bribery expense on a general ledger account how long it take for someone to notice.... Even though the expenses are legit it would be hilarious to see the facial expression on the external auditors' face....Of course I kept that thought to myself, because it would be a prank gone wrong and cause more headaches than laugh. 

When was it ever flourishing? They haven't had a profit in the last few years.. I noticed their expenses is high, and they have offices in foreign countries.. Do they NEED those offices? They have no long-term debt, so managing and making difficult decisions to cut back expenses be the best way to go to improving their cash flow from operating activities. Where can I apply to be the next CEO? Even if I fail, I'll write a humorous letter to my fellow workers to continue the tradition.

 

I never read anything about their financial results. There just seemed to be a lot of buzz about them and I apparently made some misassumptions.

Nice. They started to struggle as soon as they went public.