FT.com / Technology - Groupon’s runaway success with coupons

Check the story link for more Groupon history/background info

Groupon’s rapid ascent began some four years ago in Chicago, when Andrew Mason, its chief executive, became frustrated with a $175 cell-phone contract termination fee.

Mr Mason, who had just started at the University of Chicago after winning a scholarship to study public policy and the internet, became convinced that social networks could provide a network to enable similarly disgruntled customers.

FT.com / Technology - Groupon’s runaway success with coupons