Groupon (a portmanteau derived from 'group coupon') is a deal-of-the-day website that features discounted gift certificates usable at local or national companies. Groupon was launched in November 2008, and the first market for Groupon was Chicago, followed soon thereafter by Boston, New York City, and Toronto. By October 2010 Groupon served more than 150 markets in North America and 100 markets in Europe, Asia and South America and had 35 million registered users. The idea for Groupon was created by current CEO and Pittsburgh native Andrew Mason. The idea subsequently gained the attention of his former employer, Eric Lefkofsky, who provided $1 million in 'seed money' to develop the idea. In April 2010, the company was valued at $1.35 billion.
Contributions by Justin W Smith, Toddst1, and Wikidemon.