Groupon's Revenue Grows to $760 Million in 2010
By Soyoung Kwak in News on Feb 26, 2011 8:00PM
While last year wasn't necessarily a blowout year for businesses, it's safe to say that 2010 was a
good great year for Groupon. Groupon, which launched in 2008 and has its head offices right here in Chicago, reported 2010 revenue of $760 million, seeing a gigantic leap from its 2009 numbers.
It is without a doubt that Groupon is becoming an internet business giant. Creator of all holy group-coupons/CEO Andrew Mason appeared to be fairly confident in Groupon's future. In an e-mail he sent to his staff, Mason determined to make Groupon a business that leaves an everlasting mark on society:
"By this time next year, we will either be on our way to becoming one of the great technology brands that define our generation, or a cool idea by people who were out-executed and out-innovated by others that were smarter and harder working," Chief Executive Officer Andrew Mason said in his e-mail to his staff.
Of course, achieving great numbers kick-starts rapid expansion. Just in the past year, Groupon hired more than 3,000 new employees and has been expanding into a lot of different domestic and international markets. Seeing how things are going, it looks as if Groupon is also set to reach Mason's goal for 2011: making billions.