Photo: AP Photo
After turning down a $6 billion buyout offer from Google late last year, Groupon will file for a $15 billion IPO later this year.Guess how much Groupon CEO Andrew Mason will be worth when that happens?
A source close to the company confirms Andrew owns about ~20% of the company. That means, when the IPO goes through, he’ll worth a shocking $3 billion.
He’s just 30 years old!
Groupon‘s success hasn’t only been good for Andrew, either. Just two years old, the company employs 4,500 people worldwide – including a thousand creative and sales-y types in Chicago. That number was just 3,000 in November 2010. It could be 10,000 by this year’s end.
And to what do all these people owe their riches and employ?
Some of the weirdest coupons you will ever see, mailed to your inbox every single day.
$18 for a One-Hour Salt Air Treatment at Halo Air Salt Rooms, anyone? Care for a little impromptu plastic surgery? It’s 71% off…
Now, it may feel like we’re mocking Groupon for sending these deals to its subscribers every day, but how could we be? There are 15 billion reasons we are not!
One source close to one of the big Internet companies that tried to buy Groupon last fall told me these deals are the next evolution of Internet advertising after search. They are better than search, this exec said, because these ads don’t wait for users to come to them – these ads find you.
Still, they’re kind of weird, right?
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