Tag Archives: Andrew Mason
Groupon CEO: “We Drove Well Over $2 Billion To The Small Businesses Of Main Street”
I have heard several stories from small businesses that they have been screwed by Groupon’s business model. Groupon encourages small businesses to offer large discounts in the form of a daily e-mail coupon and when people buy it, Groupon takes a 50% cut of that lower price. However there is no denying that Groupon has encouraged customers to go into restaurants and businesses that they would not normally find out about on their own. “We drove well over $2 billion to the small businesses of Main Street, helping them to overcome challenging global economic conditions,” said Groupon CEO Andrew Mason in a note to stockholders.
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Categories Andrew Mason, Groupon
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The S.E.C. Pressed Groupon About Leaked Memo Last Month
The U.S. Securities and Exchange Commission pressed Groupon CEO Andrew Mason last month amidst the company IPO about the Mason Memo that was leaked. The controversy around the memo is that there is supposed to be a “quiet period” in the press before a company has a public offering. In the memo, Mason laid out some of the financial metrics and trends to explain why Groupon is doing well despite all the bad press. In the memo, Mason said that he was “excited” about the company’s prospects and this could be considered as a way to pump the IPO.
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Categories Andrew Mason, Groupon
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How Much Groupon Executives and Investors Made From The IPO
Yesterday Groupon Inc. (NASDAQ:GRPN) had an initial public offering. The company set their stock price at $20 and yesterday it closed at $26.11. The company was given a valuation of over $17 billion. BusinessInsider.com has compiled a list of how much the executives and investors made from the IPO. Below is the list:
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Categories Accel Partners, Andreessen Horowitz, Andrew Mason, Battery Ventures, Brad Keywell, Brian Totty, Digital Sky Technologies, Elizabeth Lefkofsky, Eric Lefkofsky, Fidelity Investments, Greylock Partners, Groupon, Groupon.com, Howard Schultz, Kenneth M. Pelletier, Kleiner Perkins, Kleiner Perkins Caufield & Byers, Maverick Fund, Morgan Stanley, New Enterprise Associates, Robert Solomon, T. Rowe Price, Technology Crossover Ventures, Ted Leonsis, The European Founders Fund, The Growth Fund of America
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Groupon Acquires Pelango, Makers Of Whrrl Mobile App
Pelango, the mobile application development company that created Whrrl, has been acquired by Groupon. Whrrl allows users to check in to locations and discover new places. Pelango founder Jeff Holden will become an executive of Groupon’s product development team as part of the acquisition. The terms of the deal were undisclosed.
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Groupon COO and President Rob Solomon Departs
Rob Solomon, the COO and President of daily deals website Groupon.com, has stepped down. It is uncertain why he is leaving, but Groupon CEO Andrew Mason said that he is moving back to Woodside, California. “He will remain a friend and advisor to the company into perpetuity,” said Mason. [AllThingsD]
Categories Andrew Mason, Groupon, Rob Solomon
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Groupon CEO Andrew Mason Had Way Cooler Ideas
In an interview with Time, Groupon CEO Andrew Mason was quoted: “To me, as somebody who likes to come up with ideas, it’s kind of stupid,” he added: “Like, I’ve had way better ideas, way cooler ideas.” Turns out that the stupid idea of Groupon is really paying off. The company recently rejected a $6 billion offer from Google and they are hiring 100 more people every month.
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Categories Andrew Mason, Groupon
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Why Groupon Ran The Politically Incorrect Super Bowl Ads
Groupon CEO Andrew Mason took some time to explain why they ran the politically incorrect ads on the Super Bowl. Groupon partnered with community organizations like SaveTheMoney.org for on this idea.
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Categories Andrew Mason, Crispin Porter and Bogusky, Groupon, Groupon.com
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Groupon CEO Andrew Mason Interviewed By Charlie Rose [VIDEO]
Groupon CEO Andrew Mason did an interview with Charlie Rose last night. Mason refused to talk about the acquisition offer that Google made, but he did reveal a few stats. He said that Groupon has about 40 million subscribers and about 3 million joined last week alone. One of the most notable quotes in the interview was about how some people are calling Groupon the fastest growing company ever. He said that they like the “N’Sync of websites,” where they have a few good tunes but its not like they are “The Beatles.” [Note: If you cannot see the video clip: watch it directly on Hulu at this link.]
Categories Andrew Mason, Charlie Rose, Groupon
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Groupon Acquires Mob.ly and Opens An Office In Palo Alto
Daily deal website Groupon.com has acquired mobile development firm Mob.ly for an undisclosed amount. The company has also opened up an office in Palo Alto, California. Groupon also hired former Netflix executive Mark Johnson as the new Chief Data Officer.
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Categories Andrew Mason, Groupon.com, Mark Johnson, Mob.ly
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Groupon Raises $135M, Now Worth $1 Billion On Paper
Groupon.com has raised $135 million from Digital Sky Technologies and Battery Ventures, giving the company a $1 billion valuation. Groupon is profitable and has 270 employees. Groupon launched only about a year ago and previously raised about $5.8 million from New Enterprise Associates and other angel investors. Groupon e-mails a daily deal to people across major cities that offers huge discounts for services, assuming that a bulk number of people sign up for it at the same time. If the required number of people do not sign up, nobody gets the deal or discount.
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