Groupon

Groupon is a deal-of-the-day website that features discounted gift certificates usable at local or national companies. Groupon was launched in November 2008, the first market for Groupon was Chicago, followed soon thereafter by Boston,New York City, and Toronto. As of October 2010, Groupon serves more than 150 markets in North America and 100 markets in Europe, Asia and South America and has amassed 35 million registered users. In October 2011, a report from Forrester Research suggested that the Groupon business model was a "disaster", and that the firm had become an example of "how fast an Internet darling can fall."

The idea for Groupon was created by now-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. According to a report conducted by Groupon's marketing association and reported inForbes Magazine, which was reported by the Wall Street Journal, Groupon is "projecting that the company is on pace to make $1 billion in sales faster than any other business, ever".

Groupon was born out of The Point in November 2008. Its name blends from “group” and “coupon”. Groupon's first deal was a half-price offer for pizzas for the restaurant on the first floor of its building in Chicago.

Groupon serves 500 markets and 44 countries, the many major geographic markets internationally include cites in the United States, Canada, Taiwan, Brazil, Germany, Greece, Finland, France, the Netherlands, Belgium, the United Kingdom, India, Ireland, Israel, Italy,Poland, Portugal, Spain, Puerto Rico, Japan, Poland, Turkey, Mexico, Peru, Chile, Colombia, South Korea, Sweden, Argentina, the United Arab Emirates, Norway, Romania, Singapore, Malaysia, Hong Kong, Mainland China, Russia and South Africa .

In Australia, development of Groupon has been slow owing to legal disputes between Groupon and an Australian company, Scoopon. Groupon now operates in Australia as "Stardeals" while the legal problems are worked out.

On February 19, 2011 The Wall Street Journal reported that Groupon was preparing to launch in China.

Groupon is also expanding into the MENA region with its launch of Groupon UAE on June 16, 2011.

Groupon New Zealand launched on 10 May 2011 in conjunction with local Facebook tourism hub Gotta Love NZ. The New Zealand market is already crowded with over 50 deal sites active.