Forbes Groupon is the fastest growing nternet company in history

Forbes Groupon is the fastest growing nternet company in history

August 16th news, 2010 August "Forbes" magazine articles to cover "the history of the fastest growing companies" introduces the development course of group purchase website Groupon amazing, the company by the Music Department of Northwestern University student Andrew · Mason (Andrew Mason) was founded, profit 7 months, in less than a year and a half in the valuation of up to $1 billion 350 million, has become the network industry’s new "overnight" typical success.

the following is an abstract:

Groupon is a clear manifestation of the characteristics of the network business: high sales, easy profit and physical retailers and network consumers closely connected. The site every day with the business cooperation, the introduction of a considerable amount of discount preferential products or services, as long as the order of the goods or services to reach a certain number of users, you can enjoy preferential.

for businesses, because in addition to providing high discount also need and Groupon into proportion often reached 55, while Groupon can make sales soared, but it is difficult to break even. Nevertheless, the business value of Groupon publicity, Groupon often buy eye-catching ads on Google and Facebook, and vigorously promote the preferential commodities, the site has 13 million users can generate word-of-mouth marketing effects can not be ignored.

and many new star network, Groupon is a real business, the company has 85 thousand square feet in Chicago (7900 square meters) of the storage space, according to a report by Morgan Stanley, this year’s revenue is expected to exceed $500 million. There is no network company in such a short period of time to grow to this scale – including eBay, Amazon, YAHOO, AOL and Google. Only 17 months after the establishment, the company received a $135 million investment in the Russian sky digital (DST) and other companies, according to the investment agreement, Groupon valuation of up to $1 billion 350 million. The only company to reach a valuation of $1 billion faster is founded in 2005, the video site YouTube, but the latter is still at a loss, Groupon was established in the first 7 months of earnings.

Groupon has entered 88 U.S. cities and Turkey and Chile, including the 22 countries. The imitators such as bamboo shoots after a spring rain emerged, trying to replicate the success of Groupon.

entrepreneurial history

Mason and the general impression of the Silicon Valley geeks (geek) are not the same, he grew to love is not a computer, but the music, from the age of 6 began to learn the piano, he said: "until around the age of 25 I think they will become a rock musician".

Mason has founded ThePoint.com, the site is a help for all kinds of

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