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Audio tour app takes Groupon founder on new journey

Two years after his ouster as Groupon's CEO, Andrew Mason is embarking on a new entrepreneurial journey selling unconventional audio tours of major cities on a new iPhone app called Detour.

Groupon stock soars after 2Q results, new CEO

Groupon's stock soared Thursday after the beleaguered online deals company named co-founder Eric Lefkofsky permanent CEO and posted stronger-than-expected revenue for the second quarter.

Struggling Groupon ousts CEO Andrew Mason (Update)

Struggling online deals pioneer Groupon has ousted its quirky founder and CEO Andrew Mason amid worries that people are tiring of the myriad of online restaurant, spa and Botox deals that Groupon built its business on.

Groupon halts gun-related deals

(AP)—Groupon has halted gun-related promotions such as deals for shooting ranges and concealed weapons courses in the wake of last month's massacre in Newtown, Conn.

Groupon surges on takeover chatter

Groupon shares surged Friday as market players reacted to chatter about a possible takeover for the troubled online deals company.

Groupon stock falls after 3Q results fall short

(AP)—Groupon, the No. 1 online deals service, says it had a small loss in the third quarter as higher revenue failed to make up for stock compensation and other expenses.

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Groupon (a portmanteau derived from "group coupon") is a deal-of-the-day website that features discounted gift certificates usable at local or national companies. Groupon was launched in November 2008, the first market for Groupon was Chicago, followed soon thereafter by Boston, New York City, and Toronto. As of October 2010[update], Groupon serves more than 150 markets in North America and 100 markets in Europe, Asia and South America and has amassed 35 million registered users. In October 2011, a report from Forrester Research suggested that the Groupon business model was a "disaster", and that the firm had become an example of "how fast an Internet darling can fall."

The idea for Groupon was created by now-CEO and Pittsburgh native Andrew Mason. The idea subsequently gained the attention of his former employer, Eric Lefkofsky, who provided $1 million in "seed money" to develop the idea. In April 2010, the company was valued at $1.35 billion. According to a report conducted by Groupon's marketing association and reported in Forbes Magazine, which was reported by the Wall Street Journal, Groupon is "projecting that the company is on pace to make $1 billion in sales faster than any other business, ever".

Groupon owns numerous international operations, all of which were originally deal-of-the-day services similar to it, but most of which were subsequently re-branded under the Groupon name after acquisition; these have included the European-based MyCityDeal (17 May 2010), the South American ClanDescuento (22 June 2010), the Singaporean, the Japanese service, Russian (both on 17 August 2010). Groupon has recently bought the Indian deal-of-the-day website and will be re-branding it soon as well. The Groupon acquisitions of uBuyiBuy launched services under the Groupon name in Hong Kong, Singapore, the Philippines and Taiwan. Groupon also acquired in Malaysia to expand its business there. Prior to these acquisitions, Groupon had bought out the mobile technology company The Point, Inc., the predecessor to Groupon, bought the trademark "GROUP-ONS" from its originator in February 2009 under terms which allows the originator and first registrant of the trademark to continue the use of this trademark. In June 2011, Groupon filed with the SEC to raise up to $750 million in an initial public offering.

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