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The daily deal service Groupon, which quietly started in Chicago in November 2008, is a sensation.
In less than two years, it has grown to 29 countries and 230 markets and boasts 17 million subscribers who get daily offers on everything from leg-waxing sessions and amusement parks to restaurants.
The company is estimated to be on track to record $500 million in revenue this year and perhaps double that in 2011. Forbes has christened Groupon “the fastest-growing company ever,” boasting a $1 billion valuation.
Such success can be attributed to several factors—and traditional advertising is definitely not one of them.
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