( Mashable ) -- Groupon is fervently preparing for its most ambitious venture yet : the launch of a new mobile application that the company hopes will change when and how society chooses to eat , shop and play . The application , known as Groupon Now , is remarkably and elegantly simple , yet it 's a radical departure from Groupon 's current deal-a-day business model . When a user opens up the smartphone app , he or she will be presented with just two buttons : `` I 'm hungry '' and `` I 'm bored . '' Clicking either button will open up a list of time-specific daily deals , based on his or her location . The familiar $ 10 coupons for $ 20 worth of food are still there , but they 're not one-time offers . Instead , businesses can choose when they want these deals to be available . Say a restaurant is incredibly busy on Saturdays but could use more business on Wednesdays . With Groupon Now , that business can fill its seats during slow business days using time-specific deals . That 's the beauty of Groupon Now : local businesses have never really had a simple way to manage their perishable inventory , especially labor and food . Why waste those resources during slow periods when you can bring savings-savvy consumers through the doors with a highly targeted Groupon deal ? `` For merchants , the daily deal is like teeth whitening , and Groupon Now is like brushing your teeth . It can be an everyday thing to keep your business going , '' Groupon founder and CEO Andrew Mason told Bloomberg Businessweek in an extensive interview on the new product . The daily deals company has been on a tear recently -- in fact it is the fastest growing company in history -- but it faces stiff competition from companies with increasing muscle . Groupon is reportedly preparing for a $ 25 billion IPO just months after famously rejecting a $ 6 billion acquisition offer from Google , but its biggest competitor , LivingSocial , is preparing to raise half a billion dollars in funding . Not only that , but the # 2 daily deals service has an app similar to Groupon Now already on the market . Groupon clearly believes Groupon Now is the future , so much so that its employees call the current iteration of its daily deals service `` Groupon 1.0 . '' While the market has made it clear that the group-buying business model is easily replicable , the coupon giant believes that its new offering will provide it with a unique technology and value proposition that will keep it ahead of the pack . With 70+ million subscribers and growing , Groupon will also have a big head start . It wo n't be long until we find out if Groupon Now is the future of local commerce ; the mobile app launches in April . © 2010 MASHABLE.com . All rights reserved .
He is preparing to release a new app , Groupon Now . User opens the app , to be presented with just two buttons : ` ` I ' m hungry '' and ` ` I ' m tired '' Clicking either button will open up a list of time - specific daily tasks , based on location .