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Andrew Mason
Andrew D. Mason (born 1981)[2] is an American businessman and entrepreneur. He is the founder and former CEO of Groupon, a Chicago-based website offering users discounts on local businesses and scholarships. He is also the founder and CEO of Descript, an audio and video editing tool powered by machine learning.[3] Early life and educationMason grew up in a Jewish family[2] in Mount Lebanon, Pennsylvania, a suburb of Pittsburgh.[2][3] He graduated from Mt. Lebanon High School in 1999 and started a Saturday morning delivery service called "Bagel Express" when he was aged 15.[4] After graduating from Northwestern University in 2003 with a degree in music,[1] Mason worked in web design for Chicago entrepreneur Eric Lefkofsky.[3][5] Mason stopped working with Lefkofsky to attend the University of Chicago's Harris School of Public Policy after he was awarded a scholarship. However, he dropped out of his master's degree program several months after it started. Mason also interned and worked at prominent Chicago recording studio, Electrical Audio, under recording engineer Steve Albini, whom Mason cited as an inspiration on his subsequent work ethic.[6] CareerAndrew was employed as a developer at InnerWorkings, a company founded by Lefkofsky, in 2006.[2][7][8] Lefkofsky provided Mason with $1 million in "seed money" to bankroll The Point, Mason's first entrepreneurial venture on the Internet.[2][dead link] It was found that The Point – a social initiatives platform whose name was inspired by Malcolm Gladwell's The Tipping Point – was too abstract to market, and it was stripped down to the Groupon concept, a website that sells deals to local businesses. Groupon's website states that since its beginning in November 2008, Groupon has sold more than six million deals. With Groupon taking 50 percent of every deal, plus a small credit-card handling fee,[9] in late 2010 it was reported by Mashable that Groupon's annual revenue was $800 million.[10] On December 1, 2010, The New York Times reported that Groupon was the subject of a $6 billion acquisition bid from Google, which Groupon turned down.[11] In 2010, Mason's salary was $180,000; "at his own recommendation" it was reduced to $756.72 effective January 1, 2011, according to the company's SEC filings. In 2011, he sold $10 million worth of Groupon stock before the company went public in November. He still owns 46 million Class A shares.[12] On December 18, 2012, Mason was named "Worst CEO of the Year" by Herb Greenberg of CNBC. Greenberg wrote, in part, "Mason's goofball antics, which can come off more like a big kid than company leader, almost make a mockery of corporate leadership – especially for a company with a market value of more than $3 billion. It would be excusable, even endearing, if the company were doing well (think Herb Kelleher of Southwest Airlines) but it's not. Sales growth is through the floor...".[13] Mason was dismissed as Groupon's CEO on February 28, 2013, the day after the company missed analysts' expectations for sales, and fell far short of the mark when it came to profit.[14] In a letter to Groupon employees on the day of his dismissal, he wrote in part:
Journalists estimated that his severance pay was just $378.36—six months' worth of salary—based on his employment agreement and his latest public salary information.[16][17] Mason released a motivational rock album entitled Hardly Workin’ in July 2013 through iTunes and Spotify. A journalist described the album in the following manner: "You’re not going to bump Hardly Workin’, ever. But you might give it a spin for fun, and it’s worth that much. Maybe not $9.99 on iTunes, but you could endure a Spotify ad or two just to hear someone in tech do something truly silly."[18][19] The album was produced by Don Gehman, who has worked with R.E.M. and John Mellencamp, and the motivation behind the album was explained on the website of New York's Daily News:
In February 2015, Mason released an iPhone app, Detour, selling unconventional audio tours of major cities.[21] The initial release offered seven different San Francisco expeditions, each costing $5.[22] In 2018, Detour was acquired by Bose, which was planning to use the app in an upcoming Augmented Reality platform.[23] Personal lifeMason is married to pop/folk singer Jenny Gillespie.[24] References
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