updated 8/29/2011 12:19:35 PM ET 2011-08-29T16:19:35

Amazon is getting on the deal-of-the-day bandwagon by offering daily discounts on featured e-books for Kindle devices.

For example, on Monday (Aug. 29) the bestselling book in Blair S. Walker's Darryl Billips mystery series "Hidden in Plain View" is $0.99, which is a whopping 88 percent off yesterday's Kindle e-book price.

Deals go live each day at 12:00 a.m. Pacific time and run for 24 hours.

Amazon isn’t a stranger to this business model, as it is a major investment backer to Groupon competitor Living Social and also touts its own daily coupon site AmazonLocal.

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