Born from The Point, Groupon was launched in November 2008. Founder Eric Lefkofsky wanted the company to pivot in order to focus entirely on group buying. They wanted to round up people to buy the same product in order to receive a group discount. It gained only modest traction in Chicago until a group of users decided their cause would be saving money. The Point was intended to organize people around some sort of cause or goal. In 2007 Mason launched The Point, a web platform based on the "tipping point" principle that would utilize social media to get people together to accomplish a goal. Mason thought that there must be some way to leverage a large number of people's collective bargaining power. The idea that would eventually become Groupon was born out of founder Andrew Mason's frustration trying to cancel a mobile phone contract in 2006. Additional investor concerns arose after the company restated 2011 revenues downward in March 2012. 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. 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 April 2010, the company was valued at $1.35 billion. The idea gained the attention of his former employer, Eric Lefkofsky, who provided $1 million in seed money to develop the idea. The idea for Groupon was created by former CEO and Pittsburgh native Andrew Mason. By the end of March 2015, Groupon served more than 500 cities worldwide, nearly 48.1 million active customers and featured more than 425,000 active deals globally in 48 countries. By October 2010, Groupon was available in 150 cities in North America and 100 cities in Europe, Asia and South America, and had 35 million registered users. Based in Chicago, Groupon was launched there in November 2008, launching soon after in Boston, New York City and Toronto.
Groupon is an American global e-commerce marketplace connecting subscribers with local merchants by offering activities, travel, goods and services in 13 countries. Groupon M圜ityDeal, Ideel, LivingSocial, CommerceInterface, Adku, SnapSave, Swarm, Mob.ly, PrettyQuick LLC, Groupon Getaways, Aisle50, GrouponLive, Plumfare, Boomerang, Inc., Cloud Savings Company
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