Groupon’s Mason Slashes and Burns in China?
3:30 pm, June 12th | by Amy Tennery
Andrew Mason is ticked off. So says Forbes, at least, which reported that the online deals CEO has been so disappointed with Groupon’s performance in China that he flew out there himself and cleared house. Here’s Forbes’ version of events:
CEO Andrew Mason just arrived in China and hasn’t wasted time shaking things up. Four expatriate executives at Groupon who were recruited from rival site Ftuan just a few months ago will be leaving Groupon China.
Of course, that’s one just report. In fact, according to SeekingAlpha, the firings may have never occurred.
The finance blog says that Groupon reached out to it immediately after the Forbes story was published, disputing the claims. According to Groupon, no expats have left Groupon’s Chinese outpost recently and no one has been fired, either. What the heck?
SeekingAlpha, naturally, is a bit skeptical. And, according to them, it’s high time someone got the axe over there:
This seems to be a belated response to the very obvious problems at Groupon China that seasoned observers have been noting since the group buy website first opened up shop in Beijing and Shanghai:
Groupon China was started and has been managed by a bunch of trendy-looking but ineffectual foreigners who can’t speak Chinese and are completely clueless about China.