GroupOn is making news. And not just for their individual sales like the Gap $50 credit for $25 that they had up yesterday – which overwhelmed their servers. But as a new way for people to get discounts of local and national businesses, up to 70% off.
Just yesterday, probably thanks in good part to the big Gap GroupOn they posted, they made 7 million dollars! Their founder is making headlines appearing on the Today show this morning and will be on the cover of Forbes. So what is GroupOn? Here are five things to know.
• GroupOn is the fastest growing internet company right now. We’re talking huge. New members are flocking to the site to get their deal on.
• Everyday one coupon to a local or national business. The discounts are usually 50%, 60% or even 70% off goods and/or services. And they are offered for a limited time. But local businesses are the focus from spas, to restaurants to cupcakes.
• For the sale to be “activated,” there needs to be a minimum amount of people who buy into the deal. Sometimes there are limited quantities so you may have to act quick.
• Currently, GroupOn features about 200 cities and can be found in other countries as well like Canada, Russia and Japan.
• Helping local businesses is one of the big pluses of the site – besides the deals and steals for you – local businesses in one day can get thousands of customers that would usually take them years.
Membership is free! Click here to join!