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Ex-Groupon CEO Mason moving to San Francisco to start new company

Groupon Chief Executive Andrew Mason smiles outside the Nasdaq Market following his company's IPO in New York November 4, 2011. REUTERS/Bren
Groupon Chief Executive Andrew Mason smiles outside the Nasdaq Market following his company's IPO in New York November 4, 2011. REUTERS/Bren

By Alistair Barr

SAN FRANCISCO (Reuters) - Former Groupon Inc. Chief Executive Andrew Mason is moving to San Francisco to start a company after recently recording an album of "motivational business music," according to an update on his blog on Thursday.

"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."

"As part of this, my wife and I are moving to San Francisco later this summer," he said in the blog. (http://smandrew.com/blog/2013/5/16/yf3qah4f8p7oxvehlj0ib93jol421o)

Mason said he intends to keep his Chicago-area home.

Groupon ousted Mason earlier this year after the company suffered several quarters of losses as demand for its daily deals waned and its European operations fell into disarray.

Mason said on Thursday that he will be spending a day each week at start-up incubator Y-Combinator in coming months "to keep my brain from atrophying."

Earlier this month, Mason said he recorded a seven-song album of "motivational business music" targeted at people entering the workforce, called "Hardly Workin'."

"I came to realize that there was a real need to present business wisdom in a format that is more accessible to the younger generation," Mason said.

"I'm really happy with the results and look forward to sharing them as soon as I figure out how to load music onto iTunes, hopefully in the next few weeks," he said.

(Reporting by Alistair Barr; Editing by Bill Trott)

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