By: E&P Staff
Groupon, the shopping Website that combines social media with online coupons, launched in Orlando, Fla., and Toronto Monday.
In addition, paidContent reported the Russian investment group DST has made a $125 million investment in Groupon.
Groupon negotiates deals with businesses and then alerts its subscribers to the discount. But the discounts only take effect if a minimum number of people agree to buy. “By guaranteeing a large number of new customers, Groupon creates a win-win for local merchants,” the company said.
For its first week in Orlando, Groupon’s featured deals will include a restaurant, paintball, a stationery store and a popcorn shop.
Orlando is Groupon’s 49th U.S. market. Its launch in Toronto is its first foray into Canada. Deals there will include a restaurant, a rock-climbing studio, a nail salon and cooking class.
Groupon said it plans to launch in Vancouver later this month.