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Article updated: 3/1/2013 6:18 AM

Groupon fires CEO, still faces underlying problems

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Groupon, the struggling online deals company, said Thursday after the market closed that it ousted Andrew Mason as CEO and will look for a new chief.

Associated Press/October 2009

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Now that Groupon has gotten rid of its quirky founder and CEO, the chief question is whether the company’s underlying online deals business is promising enough to reverse its falling stock price, declining revenue growth and waning consumer interest. In a refreshingly candid memo to staff, Groupon CEO Andrew Mason admitted he “failed at this part of the journey” and said the company’s employees “deserve the outside world to give you a second chance.”
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