Groupon is an online coupon and cashback site founded in 2008 meant to provide discounts on products and services to its users. Initially, Groupon specialized shortly after launch in offering daily deals as promotional marketing tactics to local businesses in hopes of luring customers. What began as a localized concept has now become a global platform that helps users in more than 28 countries save money on everyday items, experiences, and even vacations.

Since its launch, Groupon has become one of the world’s leading coupon sites. It not only provides users with up to 70% discounts – depending on the item – with access to more than 80,000 merchants, but it’s become a giant in the cashback industry. With Groupon, shoppers not only get to save money from a product’s original price. They also get to earn additional points that are redeemable in the form of Groupon bucks for future purchases. And these cashbacks aren’t just limited to items offered by Groupon. The real appeal is that even purchases from external stores can safely be credited with the set/agreed rate.

The concept Groupon management designed has been highly successful and gained the platform increasing prominence over the years. As users continue to avail of the offers presented across a wide variety of products and services, the website has seen steady growth since its inception. In more recent times, Groupon has rocked the industry with the news that it’s considering a purchase of Yelp, a popular online review site. Its overall business was known to be stagnating, and it hopes that this move would be beneficial in keeping their platform relevant and growing.

Groupon has undoubtedly made big strides since its humble beginnings in 2008 to becoming one of the most visited and successful sites in the cashback and coupon industry. Now with the major possibility of acquiring Yelp, there is no telling how far Groupon can go and how much more it can boost user experiences of being able to have cost-effective products and services.