How many employees does Groupon have

Groupon hired 4,000 people in two years

The Groupon company is the new star in the Internet sky. It made a billion dollars in coupons. In two years the company grew from zero to 4,000 employees and was still making a profit. Groupon is currently the most popular start-up on the World Wide Web. The business model was so successful that it has been copied all over the world in the past few months: in China alone there are now more than 500 companies that earn their money in a similar way to Groupon. Google recently bid six billion dollars for Groupon.

Groupon has a billion dollar turnover

But the founder of Groupon, Andrew Mason, did not accept Google's offer. In the meantime, banks like Merrill Lynch and Goldman Sachs want to go public. Groupon's formula for success is amazingly simple. The company sells discount vouchers to online retailers, for example at tanning salons or restaurants. On its website, Groupon makes new advertisements for certain vouchers for every major city on a daily basis.

If you want to buy a voucher, you can order and pay for it online at Groupon. A few hours later, the customer receives the voucher by email. The financial concept works as follows: Groupon collects around half of the price of the voucher, the rest is paid to the voucher provider. This means that the company has an estimated turnover of one billion dollars after just two years. Groupon is now in over 40 countries.

There is no wastage when advertising with vouchers

Andrew Mason founded Groupon in Chicago. He found the business model more by accident. Previously, he had operated a website where people could meet up for joint activities. It struck him that the most popular thing to do was to get a volume discount when shopping. He then put a new website online, which he called Groupon. The name is made up of Group and Coupon.

Companies quickly discovered the potential of Groupon. For example, hairdressers and restaurant owners wanted to finally advertise on the Internet, but did not want to place banner ads. Even advertising on Google is too complicated for many. It works easier with the vouchers. Groupon advertises them via the Internet, but the client does not have to go online himself. He can handle the deal over the phone with a Groupon employee.

First of all, Groupon does not charge any money when a customer offers vouchers. The investor Sina Afra, who finances a company based on the Groupon model in Turkey, explains: “There is no wastage with this type of advertising. The company only pays for those who actually come into the store. ”Bundling purchasing power is no longer a top priority at Groupon. Many companies offer discounts from the very first buyer. Groupon has grown into an advertising agency that makes its customers known.

From Hans Klumbies

Filed in:Global, marketTags:Groupon, Voucher, People, Business, Growth, Advertising