Groupon Buys European Competitor

May 18, 2010 Updated: May 18, 2010

Chicago-based digital coupon company Groupon has acquired Citydeal, a similar business that is popular in Europe. Citydeal, based in Germany, has operations in 80 markets and 16 countries, giving Groupon access to an entirely new continent of consumers.

Groupon has seen rapid growth over the past year for its daily coupon deals, which it sends out to members on a daily basis. “Citydeal’s rapid growth across Europe has proven that the Groupon model is truly global,” Groupon Founder Andrew Mason said in a statement. Financial terms of the deal were not disclosed.