Type of site eCommerce Founder(s) Van Jepson Alexa rank 2,826,356 (April 2014) | Available in English Website GroupPrice.com | |
Slogan(s) Grow Your Business For Less | ||
GroupPrice is a B2B deal website that sells discounted software and services for small to medium-sized Internet centric companies. GroupPrice enables online merchants to advertise their products and services to a target audience of small businesses.
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History
Based in Redwood City, CA, GroupPrice was founded by Van Jepson in June 2010.
The company was self-funded with $30,000 before several advisors turned into investors and completed a seed round of $285,000. This first seed investment closed in July 2010 and GroupPrice launched in January 2011.
Company
GroupPrice was named one of Entrepreneur Magazine’s top 100 Brilliant Companies in 2011 in the Startup-to-Startup category. The company targets businesses with an online presence up to 25 employees and up to $10 million in annual revenue. GroupPrice takes a percentage of the revenue from each purchased deal and passes the sale to the merchant with new customer information.
GroupPrice sells software and services to American small businesses and differs from the business-to-consumer daily deal model made popular by Groupon including; no local deals on food or entertainment, no minimum number of sales needed before a buyer can have access to the deal, and no time limit tied to the deal. Competitors using the B2B business deal model include OfficeArrow, which target office managers, and AppSumo, which focus on daily-deals for IT staffers.