I see that Groupon have raised $500m of funding and have become the marketing and digital phenomenon of 2011.

So why the success?  Firstly, have to say that an old boss of mine had the idea in 2003.  Brent Hoberman got very excited by the idea of lastsecond.com.  The idea that there are a finite number of deals available for a finite period of time.

Now with a range of well procured products (one of Groupon’s few areas of weakness), the smartphone and social media, the rest is clearly history.

It really is a great case of technology and psychology working together.  The fact that the web and mobile experience are slick and that age old adage of just not wanting to miss out on a deal.

A great example of  a great value proposition borne out of the old and executed well because of the new.