During Business Insider’s Ignition conference, Groupon CEO Andrew Mason commented yesterday’s stories about his role at the company. AllThingsD reported that the board was discussing whether the company needed a new CEO. Mason replied by stating that “it would be weird if the Board wasn’t discussing whether I’m the right guy for the job.” Groupon has gained traction in an entirely new space and a lot of questions remain.
“There is so much exciting stuff happening at the company”, Mason said. He emphasized the big opportunities in front of the company. “We will look back at those stories and will be proud that we got over them,” he continued.
According to Mason, with 40 million active customers, Groupon is trying to do what Amazon has done for products, but with local businesses. On the other hand, goods deals are a way to take what the company has learned from local deals and apply it to goods.
This year, Groupon’s stock has been drastically down. It was trading at over $24 and is now trading at exactly $4.00 a share. Mason said that Groupon is optimizing the stock for three or four years.
Most of the interview was about how the press reports on Groupon’s activities. He said that many articles “countered each other” and don’t depict the reality. International growth and goods deals have surprised the company.
Finally, Mason reiterated that he is the right guy for the job. “If I thought I wasn’t the guy, I would be the first person to stand up,” he said. “I think we have the strategy, I think we have the team and the board sees that,” he continued.
Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 565 cities around the world. By promising businesses a minimum number of customers, Groupon can offer deals that aren’t available elsewhere. Groupon brings buyers and sellers together in a fun and collaborative way that offers the consumer an unbeatable deal, and businesses a large number of new customers. To date, it has saved consumers more than $300 million and claims it...
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