Andrew Mason is a name that resonates with many in the entrepreneurial world, particularly in the realm of tech startups. As the co-founder of Groupon, he experienced the thrilling highs of rapid success and the crushing lows of a dramatic decline. His journey is a compelling narrative of innovation, ambition, and the volatile nature of the business landscape.
Born in Mt. Lebanon, Pennsylvania, Andrew Mason ventured into the world of entrepreneurship with a unique blend of creativity and business acumen. He graduated from Northwestern University with a Bachelor’s degree in music, showcasing his diverse interests. However, it was his foray into the tech industry with Groupon that catapulted him into the spotlight, making him a billionaire and a subject of public fascination.
Despite the meteoric rise of Groupon, Mason's story is also a cautionary tale about the pitfalls of rapid growth and the challenges of maintaining a sustainable business model. As we delve deeper into his life and career, we uncover the lessons learned from both his successes and failures, reminding us of the unpredictable nature of entrepreneurship.
Biography of Andrew Mason
| Category | Richest Business › CEOs |
|---|---|
| Net Worth | $200 Million |
| Birthdate | 1980 (44 years old) |
| Birthplace | Pittsburgh |
| Gender | Male |
| Profession | Entrepreneur |
| Nationality | United States of America |
What is Andrew Mason's Net Worth?
Andrew Mason is an American businessman who has a net worth of $200 million. Andrew Mason earned fortune and fame as a co-founder of daily-deal coupon company Groupon.
Mason was born in Mt. Lebanon, Pennsylvania and attended Northwestern University, receiving a Bachelor's degree in music. Prior to becoming a public company, Groupon raised an estimated $950 million from venture capital firms. Out of that $950 million, $810 was paid out to early investors and high level executives. At the time, Groupon's co-founder and CEO Andrew Mason withdrew $30 million from the investment round. Angel investor Eric Lefkofsky took out $320 million. Around this time Mason and Lefkofsky notoriously rejected a $6 billion buyout offer from Google. While many outside investors were skeptical of this move, the company's Venture Capitalists set their sights on the anticipated November 2011 IPO.
At the time of the IPO, Groupon shares debuted at $26 and Mason and Lefkofsky became instant billionaires. Andrew Mason's net worth soon topped $1.4 billion when the share price peaked at $31.1. Eric Lefkofsky's net worth peaked at $3.4 billion. Unfortunately, in the 1.5 years that Groupon has been a public company, it has been a disaster. The company has experienced several accounting irregularities and a significant drop in revenue. Groupon has lost around 80% of its value since going public. The value of Andrew Mason's 45,934,504 shares of GRPN have plummeted from an all-time high of $1.2 billion to $230 million today. That's a $1 billion drop in net worth! On February 27th, 2013, Andrew Mason was fired from Groupon.
