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Groupon

Internet site offering local discounts.

Headquarters:
600 W. Chicago Ave, Suite 620
Chicago, IL 60654
Employees: 9,872
CEO: Rich Williams
Stock Symbol: GRPN

Website: http://www.groupon.com

Career Site

Launched in November 2008, Groupon offers daily deals for local businesses through its website.

Groupon has deals on the best stuff to do, eat, see, and buy in 48 countries. Groupon uses collective buying power to offer unbeatable prices and provide significant benefits to businesses and consumers.

Shoppers can discover the best a city has to offer on the web or on mobile with Groupon Local, enjoy vacations with Groupon Getaways, and find a curated selection of electronics, fashion, home furnishings and more with Groupon Goods.

As of September 2016, Groupon had 29.1 million active customers in North America.

The company makes money from merchants who pay a fee for each deal that is activated.

In 2015, Groupon reported revenues of $3.1 billion, up slightly from $3.0 billion the previous year. The company reported net earnings of $20.7 million. Gross billings were $6.3 billion in 2015, up slightly from $6.2 billion in 2014.

In October, Groupon announced it acquired LivingSocial, one of its top competitors, for an undisclosed amount.

History

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.

Andrew Mason is a founder of Groupon and also The Point.

Groupon reportedly rejected an offer by Google to buy the company for $6 billion in December 2010.

The company went public on Nasdaq Stock Market in November 2011 at $20 per share.

Updated October 28, 2016