Internet site offering local discounts.
600 W. Chicago Ave, Suite 620
Chicago, IL 60654
CEO: Andrew Mason
Stock Symbol: GRPN
Launched in November 2008, Groupon offers daily deals for local businesses through its website.
Groupon has deals on the best stuff to do, eat, see, and buy in 175 North American markets and in 48 countries. Groupon uses collective buying power to offer unbeatable prices and provide significant benefits to businesses and consumers.
Over 1,000 new deals are offered each day locally and are activated when a specific number of users sign up for the deal. If not enough people sign up, the deal is canceled.
The site has over 39.5 million active members at the end of September 2012. Deals can be downloaded to Android and iPhone mobile apps.
The company makes money from merchants who pay a fee for each deal that is activated.
In 2011, Groupon reported revenues of $1.61 billion, up from $312.9 million in 2011 and $30.4 million in 2009. The company reported a loss of $297.7 million in 2011.
The company went public on Nasdaq Stock Market in November 2011 at $20 per share.
The company has grown from 37 employees as of June 30, 2009 to over 11,000 employees in 2012. The company cut 80 sales employees in November 2012.
Groupon acquired CommerceInterface in December 2012, a leading provider of web-based channel management technology that helps manufacturers, distributors and retailers succeed at managing their businesses and selling online.
Groupon grew out of a website called The Point, a website launched in November 2007 that lets you start a campaign asking people to give money or do something as a group -- but only once a "tipping point" of people agree to participate. By delaying action until enough people come together to have a real impact, The Point helps consumers, employees, citizens, activists, parents -- or anyone -- come together and solve problems that they couldn't solve alone.
Andrew Mason is the founder of Groupon and also The Point.
Groupon reportedly rejected an offer by Google to buy the company for $6 billion in December 2010.
Updated February 16, 2013