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Groupon's SA journey

Groupon SA CEOs Daniel Guasco (36) and Wayne Gosling (37) share their inspiring story of the journey that led to them heading up the local branch of this global company.

Groupon is a deal-of-the-day website that operates in 48 countries around the world. The Nasdaq-listed e-commerce company sells products and services online at discounted rates.

Meeting at the London Business School as MBA exchange students, the South African born and bred entrepreneurs knew South Africa could benefit from a product like Groupon.

“Daniel and I met in 2008 as classmates in London. We had seen the success of Groupon in the US and decided to release a similar product in SA,” says Gosling.

When the two returned home to Cape Town, they started Twangoo in June 2010, a clone of Groupon, but specifically advertising local deals. The duo say they funded Twangoo on a shoestring budget.

“We pretty much put the product online. The nature of the business is cash-positive and we didn’t need a lot of money to get started,” says Gosling.

But once Twangoo was launched online and the entrepreneurs saw its growth potential, they decided to get in touch with Groupon founder and former CEO Andrew Mason.

This resulted in Groupon buying out Twangoo in 2011.

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