Two years ago, it seemed as though Groupon's Andrew Mason could do no wrong. With an unorthodox resume -- he earned a degree in music from Northwestern University -- and an offbeat leadership style, he founded and led the Chicago-based daily deals site to an impressive IPO, with a $12.7 billion valuation. All in a span of three short years. But the era of Mason as Groupon's CEO ended yesterday, and an interim leadership team is taking over as the company searches for a new chief executive.
In a memo to employees, Mason was bluntly honest about his dismissal. "If you're wondering why I'm leaving," he told them, "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."
To read the original article: The Rise and Fall of Groupon's Andrew Mason | Entrepreneur.com
