GROUPON LAUNCHES, THUS REINVENTING THE COUPON
New site uses the power of group purchasing to offer a daily, unbeatable deal on something fun to do in Chicago
Groupon is able to negotiate deals with Chicago businesses that are only possible by guaranteeing a certain volume of sales. Customers only get the day’s deal if the specified number of people sign up that day.
“In this economy, one of the few things headed upward is coupon cutting,” says Andrew Mason, Founder and CEO. “By using the Web to give consumers buying power through the leverage of groups, Groupon is a great way to find fun things to do without going broke.”
All kinds of reasons to get out of the house
Groupon features deals on the best of Chicago’s restaurants, concerts, events, lessons, tours, spas, salons, retail shops, and more. Targeted at the Chicagoan who wishes he or she took more advantage of what the city has to offer, Groupon finds Chicago’s best experiences and offers them at a price that’s hard to pass up. Upcoming Groupons will offer discounts of up to 50% on:
- Steppenwolf tickets
- Alcoholic beverages from the Galleria Market
- Clandestino gourmet supper club
- Symphony tickets at Millennium Park
- The Nutcracker at the Joffrey Ballet
- Yoga classes, massages, dancing lessons, martial arts, and lots more
Groupon is powered by the technology of The Point, a platform for organizing all forms of collective action - including group discounts. Groupon uses The Point’s “tipping point” technology, allowing people to sign up for a Groupon and only be charged if the tipping point is reached. This removes the risk of participating, because customers know that they only pay if enough people join to get the discount.
Groupon, launched in November 2008, is a “deal a day” site that uses the power of group purchasing (or “team buying”) to get unbeatable deals on the best stuff to do in Chicago. Groupon eventually plans to expand to other American cities.
About The Point
Established in 2007 in Chicago and empowered by tipping point methodology, The Point is an online community that helps individuals organize efficient group action, leveraging the power of the Web to solve problems and be a catalyst for change.