Groupon is an American worldwide e-commerce marketplace connecting subscribers with local merchants by offering activities, travel, goods and services in more than 28 countries. Based in Chicago, 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 was available in 150 cities in North America and 100 cities in Europe, Asia and South America, and had 35 million registered users.
By the end of March 2015, Groupon served more than 500 cities worldwide, nearly 48.1 million active customers and featured more than 425,000 active deals globally.
The idea for Groupon was created by now-ousted CEO 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 December 2010 report conducted by Groupon’s marketing association and reported in Forbes magazine and the Wall Street Journal, Groupon was “projecting that the company is on pace to make $1 billion in sales faster than any other business, ever.”
Fueled by its rapid growth, Groupon went public on November 4, 2011. It was the biggest IPO by an Internet company since Google in 2004.
Groupon nowadays is building the daily habit in local commerce, offering a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat and buy. By enabling real-time commerce across local businesses, travel destinations, consumer products and live events, shoppers can find the best a city has to offer. Groupon is redefining how small businesses attract and retain customers by providing them with customizable and scalable marketing tools and services to profitably grow their businesses.