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Groupon MyCityDeal is a collective buying power, deal-of-the-day website that is focused on bringing discounted price deals [1] in the lifestyle and leisure sector to UK and European markets. History [ edit ]
On December 29, 2010, Groupon's executive board approved a change to Groupon's certificate of incorporation that would permit the company to raise $950 million in venture capital funding, based on a valuation of $6.4 billion. [101] From January 2010 through January 2011, Groupon's U.S. monthly revenues grew from $11 million to $89 million.
Once the minimum number of deals have been sold, customers' credit cards are charged, and the deal is delivered as an electronic voucher redeemable at the retailer or service provider's location. The promotional value of the vouchers purchased from deal-of-the-day websites typically expire after a certain period but maintain the original value ...
After acquiring BuyYourFriendADrink.com in 2009, LivingSocial launched a daily deals website. [9] [10] The company offered its first deal in July 2009. [11] By July 2010, the company had launched deals in 25 cities. [11] By 2011, LivingSocial had raised over $800 million in venture capital funds. [12]
With Groupon taking 50 percent of every deal, plus a small credit-card handling fee, [9] in late 2010 it was reported by Mashable that Groupon's annual revenue was $800 million. [10] On December 1, 2010, The New York Times reported that Groupon was the subject of a $6 billion acquisition bid from Google , which Groupon turned down.
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In 2007, Keywell co-founded Groupon, [25] the collective buying platform, which Forbes called 'The Fastest Growing Company Ever' in 2010. [26] Groupon had an IPO on NASDAQ in 2011. [27] [28] Keywell was on Groupon's board of directors from its inception through 2017. [29]