Groupon's Biggest Deal Ever: The Inside Story of How One Insane Gamble, Tons of Unbelievable Hype, and Millions of Wild Deals Made Billions for One Ballsy Joker
  • Groupon's Biggest Deal Ever: The Inside Story of How One Insane Gamble, Tons of Unbelievable Hype, and Millions of Wild Deals Made Billions for One Ballsy Joker
  • Groupon's Biggest Deal Ever: The Inside Story of How One Insane Gamble, Tons of Unbelievable Hype, and Millions of Wild Deals Made Billions for One Ballsy Joker

Groupon's Biggest Deal Ever: The Inside Story of How One Insane Gamble, Tons of Unbelievable Hype, and Millions of Wild Deals Made Billions for One Ballsy Joker

by Frank Sennett
     
 

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"It's hard to overstate how big a year it was for Mr. Mason. His company went public, he became a billionaire, and the daily-coupon-deals phenomenon he pioneered has seemingly swept the nation."

---Andrew Ross Sorkin, The New York Times DealBook, January 2, 2012

Groupon's Biggest Deal Ever is the exclusive, behind-the-scenes account of the

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Overview

"It's hard to overstate how big a year it was for Mr. Mason. His company went public, he became a billionaire, and the daily-coupon-deals phenomenon he pioneered has seemingly swept the nation."

---Andrew Ross Sorkin, The New York Times DealBook, January 2, 2012

Groupon's Biggest Deal Ever is the exclusive, behind-the-scenes account of the incredible rise of discount coupon giant Groupon and the compelling story of its offbeat founder, Andrew Mason, as he created a juggernaut of online commerce and ignited a consumer revolution that is disrupting how people shop all over the world.

Love him for saving you 50 percent on last night's Indian dinner or hate him for cashing in big when he could be losing millions for merchants and investors alike, Mason---Groupon's thirtysomething founder and CEO---made an incredible gamble when he turned down Google's $6 billion buyout offer to go it alone. The experts thought he was insane. Groupon was little more than two years old and staffed from top to bottom with twentysomethings. The wild ride couldn't last, but Mason thought otherwise, and with dreams of a potential IPO that could be massive, he liked his odds.

But did he make the right decision, or did he blow a chance to continue to grow "the fastest growing company in history"? Is Mason an Internet genius, or is he sitting on another bubble that could burst at any moment?

While everyone has an opinion on Groupon, Frank Sennett has written the only inside account. With exclusive access, interviews, and documents that no one outside of the company has seen or been able to report on, Groupon's Biggest Deal Ever has every twist and turn from start-up to IPO and is the real story of Mason's audacious gamble and the meteoric rise of Groupon from start-up to $16.7 billion online giant.

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Editorial Reviews

Publishers Weekly
Groupon CEO Andrew Mason takes center stage in this story about the company’s founding, development, and explosive assent. Tracing the unfolding drama, Sennett (editor-in-chief of Time Out Chicago and author of 101 Stunts for Principals) takes us from November 2006, when Mason first pitched the idea for Policy Tree (Groupon’s precursor) to Eric Lefkofsky, the man who became Groupon’s chairman, to early November 2011, when Groupon finally went public on the NASDAQ stock exchange. Sennett commendably keeps the story lively, presenting an array of tales about the pranks and hijinks that went on within the company. But the pace inevitably slows as the narrative shifts to details about takeovers and the company’s attempt at getting its IPO approved by the SEC. However, it’s refreshing and enjoyable to read Sennett’s likable portrait of Mason (“the inexperienced CEO hiding a brilliant analytical mind behind a goofball demeanor”) and Lefkofsky (nicknamed “Punchable” by Mason for his hard-edged, “alpha dog” attitude). Sennett succeeds in presenting a balanced view of the company, complete with bad press and “damaging controversy.” Agent: Mel Flashman, Trident Media Group. (June)
Library Journal
In this company biography, Sennett (editor in chief, Time Out Chicago) follows a hometown favorite, Groupon, and its cofounder and CEO Andrew Mason along a meteoric path. It all began with a site called The Point (inspired by Malcolm Gladwell's The Tipping Point), where contributors could back projects they believed in (including a possible climate-controlled dome over Chicago). When this failed to take off, the site began to focus more on local merchants and group-buying opportunities. In 2008, the name changed to Groupon, with the first deal being a classic two-for-one pizza offer. From this humble start to their now famous refusal of a $6 billion—dollar buy-out offer from Google to their $16.7 billion IPO in November 2011, the team behind Groupon led the way, inspiring and outlasting an avalanche of competitors. VERDICT A quick and surprisingly interesting look at the people behind the deals that land in your inbox every day. [See Prepub Alert, 12/12/11.]—Susan Hurst, Miami Univ. of Ohio, Oxford
Kirkus Reviews
A fast-and-furious account of how Groupon and its young founder bucked acquisition trends by rejecting a $6 billion buyout offer from web titan Google. Time Out Chicago Editor-in-Chief Sennett's focused analysis centers on Groupon founder Andrew Mason, a former Northwestern University music major with a penchant for computer coding and a passion for public policy. In 2006, Mason met Eric Lefkofsky and pitched his idea for a collective-action campaign website called The Point, Groupon's precursor. As Groupon emerged from Point users who exchanged services, the pair's disparate personalities flared; Mason was a diligent perfectionist eager to make Groupon the "new ecosystem for local commerce," while "alpha dog" Lefkofsky craved fast results. Desperate marketing strategies and a crudely constructed online presence drew incremental profits in its initial Chicago and Boston markets. Despite the spawning of knockoff sites, Groupon expanded to more than 150 markets by 2010, garnering Google's attention. Sennett appropriately profiles Mason as a performative, goofy guy who, along with high school buddies, hatched short-lived businesses repairing computers in their teens. Culled from interviews, research, emails "random eavesdropping on sales support calls," the author conveys Groupon's rapid expansion. He also acknowledges the collective power of online communities that fueled Groupon's stateside and international sales, making Mason the Web's newest "budding mogul." A justifiably dramatic look at the machinations of a resoundingly successful startup and its "Andy Kaufman of CEOs."

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Product Details

ISBN-13:
9781250000842
Publisher:
St. Martin's Press
Publication date:
06/05/2012
Pages:
320
Product dimensions:
6.40(w) x 9.30(h) x 1.20(d)

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