Andrew Mason
Chief Executive Officer at Descript, Inc.
Profile
Andrew Mason is the founder and CEO of the website Groupon.
Andrew Mason grew up in Pittsburgh. At fifteen years old he launched a small delivery business, called Bagel Express: the mark of entrepreneurial spirit is felt very early. In 1999 he moved to Chicago in order to follow classes at Northwestern University and to obtain a Bachelor in music.
But after three months of classes, Andrew leaved for a good reason. He received an unexpected offer from his former boss available to finance Andrew’s ideas. These ideas will debouch into The Point, which will put the basis to Groupon. He had this idea when he discovered he was overcharged on his telephone invoice and he didn’t have any power of negotiation. Then he imagines a website that allows internet users to cluster in order to negotiate and buy at the best conditions.
Thank to a loan of one million dollar from Eric Lefkofsky, Andrew Manson can launch the platform The Point in November 2007. Alas, the website didn’t find huge success.
Quickly, Andrew brings Point’s business model up, he should change something. In November 2008, at 29 years old, he founded Groupon (contraction of the words “Group” + “Coupon”) an e-commerce site based on the concept of group purchasing. This time, the idea is to distribute vouchers already negotiated with small retailer. He sells them at its customers and he withdraws a commission of 50%. The website launched its first offer in October 2008, for a pizza at half price and then many offers are diffused in Boston, New York and Toronto.
Then the site knew an explosive growth. According to a report in Forbes and a report in the Wall Street Journal, Groupon should generate $ 1 billion dollars faster than any other company.
This growth is allowed by many young business acquisitions, for example Citydeal in May 2010, in France, Germany and U.K. Groupon buys ClanDescuento also present in South America in June 2010, then Qpod.jp in Japan in August 2010 and finally Darberry.ru present in Russia. Prior to these acquisitions, the company had bought Groupon mobile technology Mob.ly.
In two years and half the company is installed in over 45 countries, with more than 4 000 employees. In December 2010, Groupon rejects an offer from Google of $ 6 billion in order to acquire the site.
Since 4 November 2011 Groupon is listed on New York Stock Exchange, and the price of its initial public offering at $20 a share.
Latest news about Andrew Mason
Andrew Mason active positions
Companies | Position | Start |
---|---|---|
Descript, Inc.
Descript, Inc. Packaged SoftwareTechnology Services Descript, Inc. engages in the development of audio editor for new media creators. It is also involved in transcription and video editing. The company was founded by Andrew D. Mason in 2017 and is headquartered in San Francisco, CA. | Chief Executive Officer | 2016-12-31 |
Former positions of Andrew Mason
Companies | Position | End |
---|---|---|
GROUPON, INC. | Founder | 2013-02-27 |
INNERWORKINGS, INC. | Corporate Officer/Principal | 2006-11-30 |
Bagel Express Ltd. | Corporate Officer/Principal | - |
The Point LLC
The Point LLC Internet Software/ServicesTechnology Services The Point LLC provides online community campaigning services. It allows to organize an event, post a petition for change, or raise money. The firm provides Groupon, a deal-a-day website that uses the power of group purchasing and team buying to get deals on the local goods, services and culture. The company was founded by Andrew Mason in 2007 and is headquartered in Chicago, IL. | Chief Executive Officer | - |
Training of Andrew Mason
Northwestern University | Undergraduate Degree |
Experiences
Positions held
Connections
1st degree connections
1st degree companies
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Female
Members of the board
Executives
Linked companies
Listed companies | 1 |
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GROUPON, INC. | Retail Trade |
Private companies | 4 |
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InnerWorkings, Inc.
InnerWorkings, Inc. Advertising/Marketing ServicesCommercial Services InnerWorkings, Inc. engages in the provision of marketing execution solutions. It includes procurement of marketing materials, branded merchandise, product packaging, and retail displays. It operates through the following segment: North America, EMEA and LATAM. The North America segment includes operations in the United States, and Canada. The EMEA segment comprises of operations in the United Kingdom, continental Europe, the Middle East, Africa, and Asia. The LATAM segment focuses its operations in Mexico, Central America and South America. The Other segment consists of intersegment eliminations, shared service activities, and unallocated corporate expenses. The company was founded by Scott A. Frisoni, Richard A. Heise, Jr., John McIntyre and Eric Paul Lefkofsky in 2001 and is headquartered in Chicago, IL. | Commercial Services |
The Point LLC
The Point LLC Internet Software/ServicesTechnology Services The Point LLC provides online community campaigning services. It allows to organize an event, post a petition for change, or raise money. The firm provides Groupon, a deal-a-day website that uses the power of group purchasing and team buying to get deals on the local goods, services and culture. The company was founded by Andrew Mason in 2007 and is headquartered in Chicago, IL. | Technology Services |
Bagel Express Ltd. | |
Descript, Inc.
Descript, Inc. Packaged SoftwareTechnology Services Descript, Inc. engages in the development of audio editor for new media creators. It is also involved in transcription and video editing. The company was founded by Andrew D. Mason in 2017 and is headquartered in San Francisco, CA. | Technology Services |
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