Groupon founder says company was a 'stupid, boring idea'

(Image credit: Johannes Simon/Getty Images)

published 9 February 2015

Andrew Mason, the founder of Groupon, was ousted as the company's CEO two years ago. That fact doesn't seem to bother Mason, though: He now thinks Groupon was a "stupid, boring idea that just happened to resonate," according to a new interview with The Seattle Times.

Mason is now working on Detour, an iPhone app that offers audio tours of major cities. Under his leadership, Groupon was valued at $13 billion in 2011. But by 2013, its stocks plunged by almost 80 percent below its IPO of $20 per share, which apparently led to his firing. After the collapse, which came in part due to increasing numbers of competitors, Mason's stake in Groupon fell from $1.5 billion to $228 million.

Mason told The Seattle Times that he isn't bitter about how things turned out at Groupon, though. "I Google it from time to time, but I have moved on," he said.