A couple of weeks ago, I wrote that tech entrepreneurs are the new rock stars. Andrew Mason, ousted chief executive of online deals site Groupon, may have taken the comparison to heart.
On Monday, Mr Mason, who was sacked from the company he co-founded in February, released Hardly Workin’. The album, he writes on his blog, is “of music to help people get ahead in the workplace” and “pulls some of the most important learnings from my years at the helm of one of the fastest growing businesses in history, and packages them as music”.
While Mr Mason’s effort may be post-Groupon, there is a long (and dubious) history of employees taking to song to express their love for stakeholders, customers and the company they work for. Read more
Groupon. Getty Images
Andrew Mason should have been fired as chief executive of Groupon a long time ago. The other pair of insiders that control Groupon should also take responsibility for the disaster of the online coupon company.
Mr Mason’s departure leaves his partners Eric Lefkofsy and Brad Keywell firmly in charge, since they control a majority of the voting shares. Never was the principle of buyer beware more apposite than in Groupon’s dual voting structure. Read more
Entrepreneurs should take a look at the video of Groupon founder Andrew Mason being interviewed at Wednesday’s Business Insider conference. It could be the last time you see him as the internet company’s chief executive. The board is due to meet later on Thursday to discuss his future, in the wake of the sharp fall in the stock since its IPO. A series of brutal leaks suggests his job is on the line.
Mr Mason evinces an odd and contradictory mixture of arrogance and humility. For example, he told Business Insider CEO Henry Blodget: Read more
The latest developments at Groupon hardly improve my faith in its prospects for a sound initial public offering.
Not only has Margo Georgiadis, its chief operating officer, left after five months (having, according to the FT, “struggled in dealings with Andrew Mason”, its chief executive) but on Friday it adjusted its S1 IPO filing in a way that cut its reported revenues by more than half. Read more