Two University graduates have launched Peekaboo Mobile, a smart phone application that connects users with coupons, discounts, and promotions in their immediate area.

Ben Dolgoff and Mike Fruzzetti, the brains behind Peekaboo Mobile, have capitalized on a desire for access to an assortment of deals in one central location.

Based on GPS

“It all works through the GPS on a person’s phone,” said Dolgoff. “You can find all the deals around you by hitting just one button.”

“There is no printing out or clipping of coupons,” added Fruzzetti. "Everything is done through the phone instantly.”

Peekaboo Mobile, which has more than 10,000 users in its home city of Boston, has expanded to 15 states and plans to add more.

The service is free, but the company plans to charge businesses,a monthly subscription fee in the near future.

Users may learn about deals as close as one mile or up to 50 miles away, using a map display or in list format. To claim the deal, the user displays the coupon on his or her phone.

Lessons learned

The two entrepreneurs recall that their Suffolk University professors prepared them well for the real world.

“They taught us the importance of interacting with people and social networking,” said Dolgoff.