Groupon

Groupon, Inc. is an American e-commerce marketplace that connects subscribers with local merchants by offering activities, travel, goods, and services in 13 countries. The company launched in Chicago in November 2008 before expanding to Boston, New York City, and Toronto. As of October 2010, Groupon was available in 150 cities in North America and 100 cities across Europe, Asia, and South America, with 35 million registered users. By March 2015, Groupon served approximately 500 cities and 48.1 million registered users. As of 2024, Groupon operates with a leaner workforce and has shifted focus to digital vouchers and services after discontinuing much of its physical goods segment. Groupon was created by former CEO and Pittsburgh native Andrew Mason. The idea 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." In its first earnings release as a public company, Groupon reported a 2011 fourth-quarter loss of $9.8 million on an adjusted basis, disappointing investors. Additional investor concerns arose after the company restated 2011 revenues downward in March 2012.