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Groupon


Groupon

Groupon, meaning ''group coupon,'' is a website that offers users local deals each day. The deal is only valid if a predetermined number of people sign up for it. Groupon is available in North America, Asia, Europe and South America.

About Groupon

Groupon offers one deal per day in each market. If a certain number of people purchase the deal, it will become available to all. If the predetermined number is not met, no one gets the deal. Groupon makes its money by keeping about half of what consumers pay for the deal. Many Groupon deals are based around health, fitness and beauty since the primary market that purchases Groupon deals is female.

Groupon was created by Andrew Mason and was funded by his former employer, Eric Lefkofsky. Lefkofsky invested $1 million to develop the project, and now Groupon is valued at $1.35 billion.

Groupon began in Chicago in 2008. The first groupon was for pizzas from the first floor of the building that the company is located in. Following the Chicago market was Boston, New York City and Toronto. By October of 2010, Groupon had 35 million registered users in more than 150 markets in North America and over 100 in Europe, Asia and South America.

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