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Groupon Former CEO Mason to Move to California to Start Company

May 16 (Bloomberg) -- Andrew Mason, who was fired as Groupon Inc.’s chief executive officer in February, said he plans to move to San Francisco from Chicago this year to start a company.

Mason also plans to work one day a week at Y Combinator, a startup incubator based in Mountain View, California. The Groupon co-founder and former CEO discussed his plans in a blog, without elaborating on the next company he plans to start.

“If there’s a silver lining to leaving Groupon, it’s the opportunity to start something new,” Mason wrote. “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.”

Groupon ousted Mason as CEO a day after reporting results that disappointed investors and underscored his management team’s failure to cope with diminished demand for daily coupons, the company’s main product.

After departing from the Chicago-based provider of online coupons, Mason said he spent time “traveling, losing some weight, reading, and embarking on other cliched pursuits of the unemployed.”

To contact the reporter on this story: Tom Giles in San Francisco at tgiles5@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

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