Join Transform 2021 for the most important themes in enterprise AI & Data. Learn more.
The move puts the Chicago-based startup into closer competition with online retail giant Amazon and online auction service eBay — both of which have communities of online vendors who may now take advantage of Groupon’s services to sell their items.
Groupon’s new service allows UK consumers to purchase product deal codes, which they then enter into an online vendor’s website when making the transaction. It’s a pretty clean way for the startup to remain focused on selling deals instead of technology to push those deals — not unlike its core business of selling daily deals from local restaurants, hotels and other local merchants.
Thus far, the company has been extremely successful in its efforts to sell online product deals. In once instance, Groupon sold $2 million worth of mattresses to UK consumers in a single day, according to a memo from CEO Andrew Mason that was obtained by Bloomberg.
Groupon, which filed an initial public offering in June 2011 to raise an estimated $750 million, has delayed its IPO plans due to stock market volatility.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more