Coupons + Social Media= Big Returns for Groupon

            In 2008 Eric Lefkofsky along with Andrew Mason combined efforts and created a "social coupon Web-site" called Groupon. First some background knowledge for those readers who have not yet heard about "one of the fastest growing companies today.""  Groupon offers followers daily deals that is meant to be spread through other social networking sites. Then when customers come in to use that coupon at a local business, Groupon takes a share of the proceeds. Pretty simple, yet this business idea came at a perfect time when social media was rising in popularity and many families were having to watch their spending habits due to the financial crisis of 2008. 

            

        Even though Groupon is still privately owned, the company is estimated to be worth roughly $3 million and has recently expanded to over 29 countries. Not only are local businesses taking notice as ways to increase revenue within their own business, but also huge corporations like Google have become interested in this new social coupon. Recent talks show Google offering to buyout Groupon for $6 million. Obviously, Google recognizes the growing power of Groupon, but should Groupon sell? In only 2 years, Eric Lefkofsky has changed the way companies advertise their products on social media sites. With more than 95% of merchants willing to advertise future discounts, Groupon continues to grow and make big profits.