Andrew Mason’s Life After Groupon
Anthony Bolante/ReutersAndrew Mason
is the co-founder of Groupon.
Andrew Mason is back.
In an online post
on Thursday, Mr. Mason, the quirky co-founder of Groupon, announced his
plans and gave an update on what he had been doing since being firedas Groupon’s chief executive at the
end of February.
Mr. Mason revealed that he would become a part-time partner
at Y Combinator, the Silicon Valley start-up incubator.
That means he will spend one day a week over the next several months advising
young companies. Later this summer, Mr. Mason, who has been based in
Chicago, plans to move to San Francisco with his wife, he said.
Once there, he plans to start a company.“If there’s a silver
lining to leaving Groupon, it’s the opportunity to start something new,” Mr.
Mason said in the post. “I’ve accumulated a backlog of ideas over the last
several years, my favorite of which I’ll be turning into a new company this
fall.”
A onetime darling of the technology world, Groupon quickly
fell from grace after going public in late 2011. The online commerce company
reported quarter after quarter of disappointing results, and its stock price
sank. It was not surprising to many observers when Mr. Mason was finally pushed
out by the board.
(Still, the hedge fund Jana Partners apparently sees a promising
future in Groupon; it accumulated a
3.3 percent stake in the company in the first quarter.)
In the months since leaving Groupon, Mr. Mason has been
engaging in some “cliched pursuits of the unemployed,” he said. Those include
traveling, losing weight and reading.
And then there’s the new album.
“One thing that surprised me” about managing Groupon
employees, Mr. Mason said, “was that many would arrive at orientation with
minimal understanding of basic business wisdom.”
“I came to realize that there was a real need to present
business wisdom in a format that is more accessible to the younger generation.”
He continues:
It was with this in mind that I spent a week in LA earlier
this month recording Hardly Workin’, a seven song album of motivational
business music targeted at people newly entering the workforce. These songs
will help young people understand some of the ideas that I’ve found to be a key
part of becoming a productive and effective employee. I’m really happy with the
results and look forward to sharing them as soon as I figure out how to load
music onto iTunes, hopefully in the next few weeks.
This is not a joke, according to
TechCrunch, which says it has confirmed with Mr. Mason that the
album “is for real.”
Retrieved from :http://dealbook.nytimes.com/2013/05/17/andrew-masons-life-after-groupon/?ref=grouponinc&_r=0
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