The Deal of the Day concept of offering 1 product a day at a big discount was started in 2004 by a company called Woot and grew in popularity with other websites like Midnight Box, Tanga, and Goofbag. Just to name a few. Hundreds of websites seemed to pop-up overnight (well….over the next few years) offering a similar business model. Even large big box stores implemented daily deals, including Amazon, Best Buy, and much more.
For a number of years, the popularity of Deal of the Day Websites didn’t lose much momentum. Then in 2008, just as many of the copy-cat websites were shutting down and the hype was starting to settle, a little company from Chicago came along called Groupon. They basically took the Deal of the Day Concept and applied it to local deals from businesses you would use in your own town. The company grew so fast, that they were soon dispersing checks back to businesses for deals sold that were so large, that people actually thought they were a bank. Needless to say, it was ‘The Next Big Thing’, and……..read more>
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