Groupon is a daily-deal site offering unbeatable deals on the best stuff to do, eat, see, and buy. Groupon is revolutionizing local commerce and helping to make people's lives exciting by bringing amazing experiences within reach. It uses collective-buying power to extend unmatched prices and provide significant benefits to both businesses and consumers. By bringing the brick and mortar world of local commerce onto the Internet, Groupon is creating a new way for local merchant partners to attract customers and sell goods and services. They provide consumers with savings and help them discover what to do, eat, see and buy in the places where they live and work.
Groupon evolved from Founder and CEO Andrew Mason’s first website, “The Point,” which was launched in November 2007. Deploying a similar concept of group persuasion, The Point was about social action. People were asked to give money as a group once a ‘tipping point’ had been reached showing that they were taking a stand. The Point failed to attract enough advertising revenues to stay in business, but it reinforced for Mason and his investors how powerful group action can be.
Andrew Mason and his team launched Groupon in November 2008 in Chicago to focus on collective buying power. They saw that by using the framework of The Point, they could help other city-dwellers obtain affordable access to goods and services without overwhelming them by the sheer number of choices. Groupon started out offering one deal per day. Groupon was launched in the Philippines in February 2011. It has today more than 10,000 employees and is present in over 50 countries and 550 markets globally.