Not according to their S-1: "Our current merchant arrangements are structured such that we collect cash up front when our customers purchase Groupons and make

Not according to their S-1: "Our current merchant arrangements are structured such that we collect cash up front when our customers purchase Groupons and make payments to most of our merchants at a subsequent date. Under our traditional merchant payment model, we pay our merchants in installments over a period of generally sixty days for all Groupons purchased." According to their current merchant terms it's a payment after 30, plus every two weeks after that on any balance.