Groupon, as you probably are by now aware, is exactly what it sounds like: a daily-deal site offering group discounts. Maybe you've seen that done before, but certainly not like Groupon, which has executed with an energetic sales force and engaging copywriters, many culled from the Chicago comedy scene.

Groupon's model: Getting the group discount rate first, finding the group second. The daily deal goes out and, if a minimum number of people sign up, they can all share in the group rate. Vendor gets customers, customers get a discount, Groupon gets a cut.

Groupon is a great concept packaged in a superb name, but the concept of group discounts is not new.

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