CEO & Director
Eric P. Lefkofsky
Chairman of the Board
Michael O. Randolfi
Chief Financial Officer
Groupon was founded in the year 2008. The company has been operational for almost 11 years now. The founder of the company was Andrew Mason. The name of the company is a mixture of two different words - group and coupon. The first offer provided by the company was a deal to buy two pizzas for the price of one pizza, which was obtained from Motel Bar - a restaurant established in Chicago. The main decision of the company to focus on group buying was definitely very much a success. Within 1.5 years, the company had grown from having just a few employees to having almost 350 employees. Within 16 months in business, the company had raked in revenues of nearly $1 billion, and it was the fastest company to reach the milestone as well. In the year 2011, the company had become a limited public entity as well. The IPO or Initial Public Offering by the company was the highest among internet companies since Google in 2004.
In the year 2013, the overall website of the company was totally redesigned as well. With the website being relaunched, a million customers were randomly selected to be awarded with $5000 Groupon Bucks. In the year 2014, during Black Friday and also Cyber Monday sales, the company had seen a record-breaking sales. The sales per cent were up by 25, on year on year basis. It is no doubt that Cyber Monday and Black Friday was the most important days for the company's sales figures. The same year, Amazon had announced the use of drones for package deliveries, and after that, Groupon also released a similar service known as Groupon catapults. Due to this announcement, the shares of the company had risen by almost 1.4 per cent. The rise in share per cent was also due to the news that Goldman Sachs was preparing to invest in the company as well. In the year 2015, almost 1,100 employees were sacked from the customer service and also the sales department as well. The company also ceased its operations to other countries as well, like Taiwan, Thailand, Uruguay, Morocco, Panama, Perto Rico and Philipines. It was a strategy to boost overall profits. In the year 2016, the company had leased a 42,000 square feet space in Seattle, for its 400 employees, besides having 300 employees in the Washington office. Then in the year 2018, the company was made to pay a fine of almost $57 million to IBM, for infringing its patents. The same year, the company also closed down its operations in South Africa, and it reduced the area coverage of the company from 27 countries to just 15 countries. The headquarters of the company is based in 600 W Chicago Avenue. The name of the place is Chicago, while the name of the state is Illinois, USA. The pin code of the area is 60654.
Groupon is an American company that focuses on providing various kinds of offers and deals on discounted products, either at online e-commerce websites or at offline stores as well, for its customers. The current CEO of the company is Rich Williams. As of the year 2017, the total amount of revenue generated by the company is more than $2.8 billion. Also, as of the year 2018, the total number of employees working at the company is more than 6,000. The current Amazon Alexa rank of the company's e-commerce website is 519, as of the year 2017. The company has more than 48 million active users, along with more than 425,000 active deals, being offered in around 48 countries all over the world.
The primary services provided by the company include allowing customers to obtain various kinds of offers and deals on different types of products, travel-related services, activities, etcetera, thereby the customers can purchase the good or receive the service at a lower market cost. The company provides its users with a curated selection of electronics, home furnishing items, fashion and many other categories as well.
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