The deals offered daily through Groupon start at 50 percent off and can go as high as 90 percent cheaper than the normal price. Groupon can offer such steep discounts because it guarantees business owners a minimum return on their investment and the possibility of becoming an overnight sensation.

How long after buying a Groupon can you use it?

Promotional value expires 120 days after purchase—This means that after 120 days, the promotional value of your Groupon will expire. But after that period, you can still use your voucher for the amount paid towards the goods or services advertised in the deal at the merchant.

Does Groupon still exist?

Groupon co-founder Eric Lefkofsky took over as CEO in 2013. Running the company now is Aaron Cooper, who joined Groupon in 2010 and had most recently served as North American president.