In a world where “saving” is the golden word of our cash-strapped minds, it is no surprise that Groupon has become such a success. Launched in November 2008, Groupon has become the fastest growing company to date. The site offers daily deals on things to do, see, eat, and buy in 22 states-and counting- and 35 countries. Can’t afford to a $40 dollar meal at your favorite restaurant? No problem. Groupon will only make you pay $20. It’s a win-win situation for the buyer and seller. You get to enjoy a meal on the cheap, and businesses get exposure. Although Groupon (an amalgam of group and coupon, if you were wondering) may not be widely known on college campuses, it won’t be soon before long the site becomes bigger than Facebook. Yep, I said it. Bigger than Facebook.
Northwestern student Andrew Mason started Groupon after originally having the idea for a site that would be a platform for petitioners of all sorts of causes, called ThePoint.com. After the original plan proved unsuccessful, Mason, with the encouragement of investors, started a blog offering deals from different vendors every day. The idea was an instant hit. Boston was the second city after Chicago to get Groupon’s deals, and the deals range from discounts to fancy restaurants to yoga to dance lessons. Sign up and you’ll receive a daily email for great deals in Boston.
Groupon has become so popular that 35,000 businesses are clamoring to get on the site for exposure. According to a Business Week article, “To create a sense of urgency, the sites put up limited-time offers daily, using Twitter and e-mail to stoke demand among their members.” This means that deals can sell out, and the good ones go fast. To add to its massive appeal to consumers and companies, in July Groupon launched deal personalization, which sends you deals based on interested your gender, age, buying history and interests.
Many copycats have sprung up after Groupon’s meteoric rise, the most prominent being rival Living Social, which was launched in July 2009 as a social buying company and then offering daily deals shortly after Groupon. Other sites such as BuyWithMe, Edhance, Whatever.com, & KegFly specifically target college students and all have Boston outposts. All require a simple membership and the deals are varied on each site. Just recently WhitePages launched DealPop, offering up to 70% off on restaurants and things to do in various Boston neighborhoods.
Groupon and its many followers have been a welcome sight in the Internet overload of shoddy deals and rip-offs. There is nothing to lose by signing up for Groupon, except for maybe some well-spent cash. Explore the city without spending a lot of money. It’s the greatest thing to come out of the web since Facebook, and just as addicting.
