Financial Institutions’ approach against Groupon

Groupon is a popular website that offers gift coupons which can be used at local and national companies. Established in November, 2008 with initial promotions based at Chicago, spread to many more cities and countries worldwide. At present, it has its presence in 4 continents with more than 35 million registered users with unprecedented growth in any business ever. Except LivingSocial, the company is not facing any major competitors so far.

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Who says Open Source is NOT for Financial Institutions?

A recent news story published by the Bloomberg Businessweek claimed that an Ex-Goldman Sachs programmer was found guilty of stealing certain source codes to use it for his new employer’s benefit. During the trial an argument put across by the defendant was that most of the codes that he stole were open source in nature. But the matter that caught most people’s attention was the fact that a financial institution like Goldman Sachs is also one amongst a plethora of open source code users.

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