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.
They came up with the patent-pending idea for Groupon as an antidote to a common ailment for us city-dwellers: there’s so much cool stuff to do, but the choice can be overwhelming. With so many options, sometimes the easiest thing is to go to a familiar restaurant, or just stay at home and watch a movie. As a result, they miss out on trying all the cool things our cities have to offer. By focusing on one good or service each day, Groupon makes it simple. And by leveraging The Point’s framework for collective buying, Groupon is able to offer deals that make it very difficult to say no.
Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 300 markets and 35 countries, and soon beyond (read: Space). We have about 1,000 people working in our Chicago headquarters, a growing office in Palo Alto, CA, as well as regional offices in Europe and Latin America and local account executives in many cities.
Groupon negotiates huge discounts—usually 50-90% off—with popular businesses. They send the deals to thousands of subscribers in their free daily email, and they send the businesses a ton of new customers. That’s the Groupon magic. Give the gift of local adventure to friends, family or anybody who needs to get out more. You’ll be giving presents worth twice what you paid, and without going shopping or paying shipping costs.