Andrew Mason
Andrew D. Mason | |
|---|---|
| Born | Template:Birth year and age Mount Lebanon, Pennsylvania, U.S. |
| Occupation(s) | Entrepreneur, business executive |
| Known for | Creator and former CEO of Groupon; founder and CEO of Descript |
Andrew D. Mason (born 1981) is an American entrepreneur and business executive, widely recognized as the creator and former CEO of Groupon, a Chicago-based service that provides discounts for local merchants and scholarship programs. He also serves as the founder and chief executive officer of Descript, a machine learning-driven audio and video editing software.
Early life and education
Raised in a Jewish household in Mount Lebanon, Pennsylvania, a suburb near Pittsburgh, Mason completed his studies at Mt. Lebanon High School in 1999. At the age of 15, he initiated a Saturday morning delivery venture known as "Bagel Express."
Following his graduation from Northwestern University in 2003 with a Bachelor of Arts degree in music, Mason began working in web design under the mentorship of Chicago entrepreneur Eric Lefkofsky.
Mason briefly enrolled in the master's program at the University of Chicago's Harris School of Public Policy through a scholarship but departed after several months. Additionally, he gained valuable experience at Chicago’s Electrical Audio recording studio, working alongside engineer Steve Albini, whose approach significantly influenced Mason’s professional discipline.
Career
Mason’s professional journey commenced in 2006 when he joined InnerWorkings, a company founded by Lefkofsky, as a developer. Lefkofsky also invested $1 million in seed capital for Mason’s initial online project, The Point. Inspired by Malcolm Gladwell's The Tipping Point, The Point was later transformed into Groupon, an online platform offering discounted deals for local businesses. Since its inception in November 2008, Groupon has facilitated the sale of over six million deals, retaining 50% of the revenue plus associated credit card fees. By the end of 2010, Groupon’s annual revenue had reached $800 million. That same year, the company declined a $6 billion acquisition proposal from Google.
In 2010, Mason’s compensation was $180,000; however, he voluntarily lowered his salary to $756.72 in 2011 according to SEC documents. Prior to Groupon’s November 2011 IPO, he sold $10 million worth of company stock while maintaining ownership of 46 million Class A shares. Despite rapid expansion, CNBC's Herb Greenberg named Mason "Worst CEO of the Year" in 2012 amid concerns over declining sales and managerial effectiveness.
On February 28, 2013, Mason was removed from his position as Groupon CEO following missed sales and profit targets. In his departure statement, he accepted responsibility for the company’s setbacks. Due to his reduced salary, his severance package was estimated at only $378.36.
After leaving Groupon, Mason ventured into music with the release of Hardly Workin’ in July 2013—a motivational rock album produced by Don Gehman aimed at young professionals entering the workforce and characterized as a playful business-themed project.
In February 2015, Mason introduced Detour, an iPhone application providing unique audio tours of major cities. The initial tours launched in San Francisco with a price point of $5 per experience. In 2018, Bose acquired Detour to incorporate it into their forthcoming Augmented Reality platform.
Personal life
Mason is wed to Jenny Gillespie, a singer known for her work in the pop and folk genres.