Why are so many people jumping on the Groupon business model bandwagon?

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I subscribe to a number of news alerts through Google and it seems that I am constantly reading articles about a brand new company that is trying to emulate Groupon’s business model of offering limited time, discounted deals to local customers. Groupon has become a major success story as they tested their business model in Chicago and then expanded into other major cities in the US and Canada. Now the company has sales representatives operating in over 250 markets in North America, South America, Asia and Europe.
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