Groupon founder Andrew Mason will take his business concept one step further by merging with eCommerce ticketing company Live Nation to create GrouponLive: a new way for consumers to find deals to their favorite entertainment events around the nation.
The new joint venture, called GrouponLive, was announce Monday morning and, similar to Groupon, will allow consumers to find limited-time deals to sporting events, concerts, theater and other entertainment events across North America. Financial terms of the deal still have yet to be announced, and the joint venture is expected to launch sometime this summer.
While Groupon reigns supreme in the online deals market, the industry has flourished over the past few years as the recession forced money-conscious consumers to find new ways to do more with less. Since Groupon’s launch in 2008, competing sites like LivingSocial and Bloomspot have popped up to steal a piece of the online deals market. Most recently, Facebook announced its entrance into the fray with Facebook Deals this past April, and previously launched Check-in-Deals back in November–a service that allows Facebook users to earn deals by checking in to businesses using their smartphones.
Telecommunications company AT&T also recently launched its own Groupon clone, called Yellow Pages Deals, last week. The new service is currently only available in Los Angeles, Fort Worth, Dallas and Atlanta, but is expected to expand to other U.S. cities in the coming months.
Check out: Slash Your Coupon Search Time with Bing’s Mobile Deal Tool
Microsoft recently took a completely different approach to the online deals market through its decision search engine Bing by launching Bing Deals, which aggregates different search deal sites from across the internet. Still, with Groupon’s far reach in the online deals market (the company has sold over 44 million deals to date and has been valued by some at as high as $20 billion), it’s hard to see any other company with the exception of perhaps Facebook gaining as much ground as its it’s picked up since launching.
And to find out more about Josh Stevens, a man who lived exclusively off of Groupon deals alone for one year, check out liveoffgroupon.com.