Jared Orkin, BSBA '10 -- The phenomenal success and relative simplicity of Groupon - the Chicago-based group-buying discount Web site founded by wunderkind Andrew Mason - has spawned a niche industry with three similar start-ups founded in the Boston area since last year.

With group-buying sites, sellers will offer a product at a discount - so long as some set number of people agree to buy it.

Needham-based CoupMe offers 10 deals a day in each of the New England states. Jared Orkin started CoupMe about a year ago while a senior at Suffolk University. Orkin, 22, is taking the hyperlocal approach to group buying, and considers his site a mix of city guide and discount site. By offering deals closer to a user’s home, CoupMe - now with 13 employees - is trying to encourage more repeat customers for the business.

“If you live in Quincy, you don’t have to go to Boston for a mani-pedi or a restaurant deal,” he said.

Boston Herald, September 8, 2010