napkin business plan now worth $3 billion: Groupon

When daily deal website Groupon was still The Point, Chi-town CEO Andrew Mason doodled the company’s business plan on a napkin on the day they 1st got real money.

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Groupon offers a range of locally tailored consumer daily discounts of as high as 90% and takes a cut of business revenue. Their biggest competitor is LivingSocial. Groupon’s 50 million subscribers across 35 countries, represents a 2,400% subscriber growth rate over last year. With dizzying growth, Google-ilk bidders and IPO suitors in Goldman Sachs and Morgan Stanley, napkin phase 3 is now upon it.

Moral of the story is napkins are about the right size for a decent business plan.

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