He harnessed the “group power” of the internet, and turned coupon clipping into an online empire – the story of Groupon.
Hear the Podcast:
Why Didn’t I Think of That? Podcast – Episode #1: Groupon
Read the Blog Story:
‘Groupon Occupies Wall Street’ – November 9, 2011
What they do:
A coupon business that brings groups of people together.
When Andrew Mason developed a website that bring together groups of people for causes and fundraising, he quickly saw the potential of group power. One year later, he launched Groupon — a Group Coupon Business.
About the business:
Groupon.com serves major city populations with daily bargains at unbeatable prices. If enough people sign up for a deal, discounts can range from 40 – 90%. Businesses win by getting traffic for goods or services, consumers get huge discounts, and Groupon gets a percentage of the sales. Now that they’ve gone public, Groupon is worth nearly $20 billion, just four years after launching.