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.”