Groupon, which launched in November 2008, has become the fastest growing company in web history. Their innovative entrpreneurial founder, Andrew Mason, invented the business model which has transformed the way companies make sales (especially smaller ones with limited marketing budgets).

The name ‘Groupon’ is a blend of the words ‘group’ and ‘coupon’- the foundations of the company. Subscribers to the website receive one coupon every day of the year, for things to do, see, eat and buy in their local area.

Groupon promises these local businesses a minimum number of customers and if there is enough interest from their subscribers, the coupons are then distributed. Groupon makes a profit by taking a cut from the deal. And how…