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Select Groupon subscribers in Chicago, Cleveland, Columbus (Ohio), Minneapolis and Orange County, Calif. received an invitation-only email today to try out a complimentary three-month membership of Groupon VIP, a subscription-based loyalty program. Groupon VIP is currently being tested in select markets and allows members early access to deals, the ability to purchase closed or sold out deals and anytime-refund capabilities.
A must-have for frequent Groupon users, Groupon VIP provides members early access to deals beginning at 12:00 p.m. the day before they're scheduled to run. As Groupon deals can sometimes sell out and early appointment times may fill up quickly, VIP allows members first dibs on purchases and preferred appointments. Groupon VIP also gives participants access to Groupon's Deal Vault of closed and sold-out deals -- deals that are no longer available to regular Groupon subscribers.
Additionally, there's relief for those who have purchased a deal that's about to expire, moved to a new neighborhood or got dumped before a big date; VIP's return policy allows one-click, anytime exchanges for purchases made as a member of the program in the form of Groupon Bucks, credits that can be used towards the purchase of additional Groupons.
"We're continually innovating to improve the Groupon customer experience," said Jeff Holden, senior vice president of product development at Groupon. "In the case of VIP, we asked our customers 'If you could wave a magic wand and change Groupon in any way, what would you ask for?' The three main features of VIP were at the top of the list: early access to deals, ability to purchase closed or sold out deals and anytime-refunds."
Groupon began testing VIP earlier last month in Charlotte, Indianapolis, Miami, Milwaukee, Tampa and Hampton Roads, Va. with plans to eventually roll out the program nationwide.
Membership in the program costs $29.99 per year after a free three-month trial period, and customers can add their name to a waiting list ( http://www.groupon.com/vip ) to be notified when it is available in their area.
Groupon launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in 48 countries around the world. Groupon uses collective buying power to offer huge discounts and provide a win-win for businesses and consumers, delivering more than 1,000 daily deals globally. To subscribe for the best deals in your city, visit http://www.groupon.com . To learn how to become a featured business, visit http://www.grouponworks.com .
This announcement contains forward-looking statements that involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the factors included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations in the company's registration statement on Form S-1, as amended, filed with the Securities and Exchange Commission on November 1, 2011, copies of which may be obtained by visiting the company's Investor Relations web site at http://investor.groupon.com or the SEC's web site at www.sec.gov . Groupon's actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance.
You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.
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