Andrew Mason - Groupon CEO - FIRED
- Thread starter nickCR
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The same could be said about any CEO, though. Zuckerberg looks like a genius to some, but what if he would have sold to Microsoft at $15 Billion if we all knew it would be valued at $100 Billion?
Hindsight...
As an Entrepreneur, you're either a genius or a fool.
He made around $200 million. These VC "startups" are mostly pump-and-dumps. Read Wolf Of Wallstreet for an description of why VC money loves fast growth properties. Silicon Valley has its own Old Boys Network of investors (PayPal founders, Musk, Parker, that kinda douchebag) that the sharks bring into deals to attract the Joe Public investor (doctors, lawyers etc) by the thousands. However, the sharks structure the deal so only they and the douchebags get the real share of the money ala Groupon, Facebook...
Yeah, but if you own the company, you should have a better idea than anyone else if the ship is about to sink.
Where are you guys getting this info? I thought Google offered $6 billion, then a few months later the insiders sold loads of their stock (I'm guessing at a higher valuation), and then it went public and was worth like $11 billion and over $6 billion for a while.
Crazy find Ayzo. He has some other surprising posts. It's actually really damn inspiring. When you see a founder of a mega-company like Groupon (albeit on its way down) asking common questions like the one below... you begin to realize that any one of us can conquer some insane shit.
Even if you own the company you have no idea what tomorrow will bring, which is why a startup is such a risk and why it takes a certain type of person to be a true Entrepreneur.
I'm sure, deep down, he thought he could bail the company out, as he's clearly done a damn good job of getting the company to where it's at. Unfortunately, the growth factor became a problem and that's the difference between good CEO's and great CEO's, although, in this case, the Business model is a problem as well.
Also, who's to say that he didn't want to take the $6 billion and chill in the Bahamas? He might have been "forced" to turn it down, thinking they'd get a better deal. It happens, unfortunately... greedy pigs in suits.
Considering he started off with nothing but an idea and a post on sitepoint, i think he's done pretty good for himself.
Crazy find Ayzo. He has some other surprising posts. It's actually really damn inspiring. When you see a founder of a mega-company like Groupon (albeit on its way down) asking common questions like the one below... you begin to realize that any one of us can conquer some insane shit.
I'm pretty inspired and motivated right now. I ask dumb questions like this all the time.
Pretty sure the idea for Wickedfire was spawned on Sitepoint too. Not that Jon is worth $200 million but he is Jewish so he can just create more money if he wants it.
I like the way he peaced out:
Seems like just yesterday I was getting $3.50/lead from COPEAC to build his list. That was their first mistake...
I like the way he peaced out:
Seems like just yesterday I was getting $3.50/lead from COPEAC to build his list. That was their first mistake...
Yeah it's a tough call to say what really was going on behind the scenes. I'm sure there were a ton of politics that we don't know about, especially since he didn't have a majority stake in the company.
Some CEO/Founders are better at building something huge and passing the torch to someone else, which seems to be Mason's strength. Still think he shoulda handed it off to someone sooner to save face publicly, but either way he's obviously walking away very well off financially.
Hello friend,
I think before they pay commision so high for email submit so they can make growth rate of members look much faster. That way can get more money from investors private or can IPO Wall Street for more money.
Good luck bro
It's funny how you guys talk shit about Andrew turning down google. Acting pompous about someone else's choices is pretty easy when you're dreaming about you would have done. You don't know what motivates Andrew, and what influenced him to turn down the deal. It could have simply been because he wasn't sure if he was going to have an idea that "big" again, kind of a similar thought process to Zuckerberg when he was offered $1B for facebook.
He tried to go for the big swing but didn't quite make it. I still respect him for trying. And for a guy who got fired, he's still richer than all of wickedfire combined. (excluding Bigwill from this sum)
He tried to go for the big swing but didn't quite make it. I still respect him for trying. And for a guy who got fired, he's still richer than all of wickedfire combined. (excluding Bigwill from this sum)
Does this mean there's a market for legit services in the small biz market. I always thought small business owners were shrewd. But millions falling for this shit makes me think its time to niche out.... Long term.
And yes the Jew's are God's people. They have powers.
And yes the Jew's are God's people. They have powers.
Dear Mr. Mason,
Thanks for being the CEO of Groupon. With your vision and money, We "Affiliates" made a lot of money. Who cares if groupon didn't. Thanks for sending over the 6 figures I made on groupon in 2011
cheers,
Your Affiliate Friend
Thanks for being the CEO of Groupon. With your vision and money, We "Affiliates" made a lot of money. Who cares if groupon didn't. Thanks for sending over the 6 figures I made on groupon in 2011
cheers,
Your Affiliate Friend