Groupon, the website that features daily deals on the best stuff to do, eat, see and buy in several cities around the world, has received an investment of undisclosed amount from Maveron LLC.
In conjunction with the funding, Howard Schultz, co-founder of Maveron LLC, and chairman, president and CEO of Starbucks Coffee Company (NASDAQ:SBUX), has joined Board of Directors.
Commenting on the addition, Groupon CEO Andrew Mason, said: “As CEO of one of the world’s most iconic brands, Howard is an invaluable addition to the Groupon board.
“His experience in building the culture and business of Starbucks and his relentless focus on innovation to improve customer experiences brings a unique combination of skills to our Board of Directors”.
Launched in November 2008 in Chicago by Mr. Mason, Groupon uses collective buying power to negotiate high discounts with businesses and shares them with subscribers via free daily emails. The deals are activated only when a minimum number of people agree to buy, encouraging subscribers to share the promotion with family and friends.