Groupon is the original daily deal site offering the best stuff to do, eat, see and buy in more than 230 cities and 29 countries around the world.
Groupon is a deal-of-the-day website that is localized to major markets in the United States and Canada. Launched in November 2008, the first market for Groupon was Chicago, followed soon thereafter by Boston and New York City and Toronto.
The company offers one "Groupon" per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint's platform: if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day. This reduces risk for retailers, who can treat the coupons as quantity discounts as well as sales promotion tools. Groupon makes money by getting a cut of the deal from the retailers. There are certain businesses that Groupon will not offer its services to, including shooting ranges, abortion clinics, plastic surgeons and strip clubs Groupon is said to be the fastest growing company ever.
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