CHICAGO--(BUSINESS WIRE)--Today Groupon (http://www.groupon.com) announced the election of Howard Schultz to the company’s Board of Directors. Mr. Schultz is chairman, president and chief executive officer of Starbucks Coffee Company (NASDAQ:SBUX).
Mr. Schultz is credited with transforming Starbucks in the three years since he returned as CEO--revitalizing the Starbucks brand and culture while at the same time thoroughly transforming its business and operations.
“As CEO of one of the world's most iconic brands, Howard is an invaluable addition to the Groupon board,” said Andrew Mason, founder and chief executive officer of Groupon. “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.”
Groupon also announced that in connection with Mr. Schultz joining the board, Maveron LLC, a venture capital firm co-founded by Mr. Schultz, has invested in the company.
Using the principles of collective buying, Groupon negotiates unprecedented discounts with popular 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. By guaranteeing a large number of new customers, Groupon has created a powerful new marketing vehicle for local merchants in thousands of cities worldwide. This innovative approach to e-commerce has brought millions of dollars in new revenue to local businesses while saving more than $1.5 billion for consumers in 41 countries around the world.
Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in more than 500 markets around the world. Groupon uses collective buying power to offer unbeatable prices and provide a win-win for businesses and consumers, delivering more than 650 daily deals globally. For more information, visit http://www.groupon.com.
Maveron is a venture capital firm that invests exclusively in consumer companies. Founded in 1998 by Dan Levitan and Howard Schultz, the firm has offices in Seattle and San Francisco. Representative Maveron investments include Altius Education, eBay, Capella Education, Livemocha, Shutterfly, Trupanion and zulily. For more information about Maveron, visit www.maveron.com.