How Groupon Is Still Staying Successful

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When the recession hit, people everywhere were looking to save money. For those who don't know, the Internet sensation Groupon is a site that works with businesses in your neighborhood that gives out daily deals and savings. It's hard to tell you exactly what kind of deals Groupon has because it varies for each city. Take for instance Cleveland: I go to Groupon.com, type in my zip code, and view the daily deals in that area. Today, Fit Body Bootcamp in Beachwood has a deal that saves you $50. David Streitfeld further explains not only how Groupon works, but how the business functions in his article in the New York Times Business Day:

RACHEL HANDLER is struggling to say something funny or perhaps amusing or at least clever about horses. Her mind is empty. She can’t recall the last time she was on a horse or even saw a horse. The minutes fly by. Horses are nothing to joke about.

Ms. Handler writes for Groupon, the e-mail marketer that was casually founded in the pit of the recession and almost immediately became a sensation worth billions. The musicians, poets, actors and comedians who fill its ranks are in a state of happy disbelief over the company’s success. In the age-old tradition of creative folk, they were just looking for a gig to support their art. Now stock options have made some of them seriously wealthy, at least on paper.

Continue Reading at New York Times Business Day