Groupon is an online marketplace where you get different deals every day. It works on the deal of the day concept. These deals can be about a restaurant near you, discounts on movie tickets, beauty salons, deals for a garage visit for your vehicles, dance lessons or even an appointment at a doctor. It is a city based deals service that gives you best deals in your city. The idea of Groupon is to partner with smaller local businesses & provide initial discount coupons to customers so just to avail a significant discount, those customers pay a visit to that place. Groupon does not repeat their deals. The way Groupon make money is that they have different deals for every fresh day partnering with newer places on daily basis. Groupon is basically a powerful online advertiser of your products to get you better sales and brand recognition for a cost of a fee.

Founder Andrew Mason claims that the idea of developing Groupon came from the thought of uniting the large mass to leverage the collective power. Soon in 2008, Mason launched the website. Within a year and a half, Groupon was valued at $1 billion, the only other website to reach a billion dollar valuation so quickly was YouTube.