Groupon CEO brutally honest in departing memo

Editor’s note: We are rerunning this story as part of a look back on the most-popular stories on Ragan.com in 2013.

Andrew Mason, the quirky founder of Groupon, was ousted as its CEO today after a brutal first-quarter earnings report, which saw the company’s stock drop roughly 25 percent in trading on Thursday.

Mason tweeted a link to the resignation memo he sent to employees, in which he pokes fun of typical farewell notes. For instance, he writes: “I’d like to spend more time with my family. Just kidding—I was fired.”

Here’s the full text:

(This is for Groupon employees, but I’m posting it publicly since it will leak anyway)

People of Groupon,

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. If you’re wondering why… 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.