Groupon launches in Toronto, Vancouver next

Chicago’s Groupon, the shopping site that combines social media with online coupons, announced today that they have launched in Toronto.

Groupon negotiates deals with businesses and then alerts its subscribers to the discount. But the discounts only take effect if a minimum number of people agree to buy.

Today’s inaugural deal in Toronto is $16 for $40 worth of “eats and drinks” at Local 4, located at 4 Dundonald Street, one block north of Yonge and Wellesley.

Groupon also announced today that it plans to launch in Vancouver later this month and paidContent reported the Russian investment group DST has made a $135 Million investment in Groupon.