Groupon, the incredibly popular deal-sharing site that recently raised a whopping $950 million funding round, has just announced a pretty impressive milestone: users have ‘saved’ over $1 billion through the site’s sales.
Groupon’s daily deals often come with steep discounts of 50% or more — Groupon is presumably totaling all of these discounts to reach its $1 billion stat. Of course, the site isn’t exactly saving you money, because its hot deals often lead people to purchase things they wouldn’t buy otherwise (I’m still trying to figure out what I’m going to do with my $50 voucher for art supplies).
In any case, that’s a lot of sales.
In December, Groupon walked away from an acquisition offer from Google that was rumored to be around $6 billion. They didn’t waste any time in raising that new $950 million round afterwards.
And if you’re interested, you really can use Heifer to send a llama (or sheep, or goat) to families around the world.
Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 565 cities around the world. By promising businesses a minimum number of customers, Groupon can offer deals that aren’t available elsewhere. Groupon brings buyers and sellers together in a fun and collaborative way that offers the consumer an unbeatable deal, and businesses a large number of new customers. To date, it has saved consumers more than $300 million and claims it...