Summary Box: Online bargain broker Groupon expands to Japan, Russia with 2 acquisitions
By APWednesday, August 18, 2010
Summary Box: Groupon enters Japan, Russia
COLLECTING COUPONS: Online coupon provider Groupon, which has quickly become a favorite of Internet bargain hunters, has acquired Japan’s Qpod Inc. and Russia’s Darberry Inc. as part of an international expansion.
WHAT IS IT?: Launched in 2008, Groupon combines social media with collective buying clout to offer daily deals on products, services and cultural events in local markets. Promotions are activated only after a certain number of people in a given city sign up. Groupon makes money by taking a percentage of each “groupon” it sells. Qpod and Darberry have similar business models.
NETWORK: Groupon has 13 million subscribers in 29 countries and has been aggressively expanding its network. It recently bought Europe’s Citydeal.
