Nov 16, 2010 Meet The Fastest Growing Company…EVER
Groupon, a name that blends “group” and “coupon,” presents an online audience with deep discounts on a product or service. Act now, says the pitch: You have only so many hours before this offer expires. That’s a familiar come-on, but it’s coupled with a novel element: You get the deal only if a certain number of fellow citizens buy the same thing on the same day. It’s a cents-off coupon married to a Friday-after-Thanksgiving shopping frenzy.
According to a report compiled by Morgan Stanley, Groupon is on track to pass $500 million in revenue this year. No other technology stalwart – incuding Ebay, Amazon, Yahoo, AOL, and Google – grew that big, that fast. At just 17 months old last April, Groupon boasted a $1.35 billion valuation. The only company to reach $1 billion valuation faster was YouTube (Full story).