Groupon, Inc. ( Groupon

Decent Essays
Groupon, Inc. (“Groupon”) is a company that specializes in local commerce. It has relationships with companies on a global scale and alerts consumers on the hottest deals with respect to shopping for various products, travel destinations, and popular spots, goods and services that a city has to offer. The stock ticker for the company on the NASDAQ exchange is “GRPN.” The company is listed under the sector ‘Technology’ and industry ‘Internet Information Providers.’ It started off as ‘, Inc.’ but in October 2008 it changed its name to ‘Groupon, Inc.” Groupon was founded in 2008 by the now ousted CEO Andrew Mason. The current CEO is Eric Lefkofsky who initially invested $1,000,000 toward the development of the company. The Chief…show more content…
Groupon redefines how small businesses operate when it comes to attracting and selling to consumers. It helps businesses operate and grow more effectively. Groupon knows it has a social responsibility with respect to the society it operates in. It tries to help small businesses grow which in turn boosts the economy. Additionally, given the state of the economy, it helps consumers find deals at an affordable cost. Groupon has a corporate social responsibility department which has employees who work on “strengthening local communities, connecting customers to their neighborhoods, and making Groupon a better place to work” (Carlson) Many employees devote their time toward good causes. For example, an employee by the name of Tom McGraw spearheaded the coffee revamp project which replaced nine Keurig machines with trios of airpots that use large-batch coffee grounds. This resulted in better and more cost-efficient coffee. According to Groupon, “Since its implementation in April 2013, the ‘Coffee Project’ has saved more than an estimated 12,000 K-cups and $3,700 per month (that’s about 108,000 K-cups and $33,300!)” (Carlson). The thousands of K-cups would have ended up in landfills which negatively impacts the environment. Groupon’s revenue continues to grow. In the first quarter of 2014, Groupon’s revenue increased 26%, to $757.6 million. In the first quarter 2013, revenue was $601.4
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