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Groupon (fka ThePoint) is an internet service that offers deep discounts on local deals on everything from spa and sky diving lessons to hotels and restaurants. Deep discounts range from 40%-90% of the normal price. If enough people buy into the offer, users get the deal. If there aren’t enough people, no one gets the deal. Groupon collects payment and passes it on, minus their fee, to the business.
This Groupon funding from Maveron was detailed in FundingFlash – a comprehensive daily email detailing companies receiving venture capital, growth equity or angel investment funding.
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