Groupon leverages social media networks like Facebook and Twitter to promote daily deals with large discounts for local businesses, helping both consumers find bargains and businesses gain new customers cost-effectively. It uses a simple business model where it negotiates deals with local retailers, sells coupons to customers at a discount, and charges the retailers a commission from each sale. This three-way win between consumers, businesses and Groupon has helped the company grow rapidly since 2008 to generate billions in revenue through daily deal emails and social media promotions of limited-time offers.