Groupon has launched an instant, location-based mobile deal offering service called Groupon Now. The service offers various deals throughout the day via a mobile application or on the Web, rather than a single deal delivered to your inbox.

It's similar to the way services like Foursquare or Facebook Places offer discounts and deals, tapping into your device's GPS to peddle coupons in real-time. When you enter your location, Groupon Now lets you choose the type of deal you'd like, whether it's a half-price salsa lesson or a discount on a cheeseburger. Using your existing Groupon account, you can purchase the deal with one click, present a barcode for the vendor to scan, and claim your discount.

Rumored since March, Groupon Now is available on the iPhone and Android devices, as well as online. For the moment, Groupon Now is only available in Groupon's home base of Chicago, but it will eventually expand to additional cities.

Founded in 2008, Groupon has some 6,000 employees in cities throughout the world. It's rumored that the top-dog group buying site is headed for an initial public offering, and it could come as early as this week. A Groupon IPO could fetch between $15 and $25 billion.

In November, Groupon turned down an acquisition offer from Google, said to be worth as much as $6 billion. But considering the IPO buzz and the announcement two months later that Groupon had completed a $950 million funding round, passing on Google didn't seem to matter.

This article, written by Leslie Horn, originally appeared on PCMag.com and is republished on Gear Live with the permission of Ziff Davis, Inc.