Get your Groupon with everyone out there and get Coupons!!!
It wasn't long ago that I bought a packet of coupons to local restaurants, supermarkets and other things. I really only only cared for two things in that booklet. Pizza coupons and restaurant coupons. The booklet cost $25 but it was for a good cause. The way this booklet came to my hands was through a door to door salesman who was selling the coupon books to raise money for a local charity in which all local businesses participated. Coupon included free oil changes, amazing pizza discounts and deals and even free drinks at a local pub. I was truly disappointing when the coupons expired because I had used only the food deals for the coupons. Granted the oil change was free and other deals like that but I preferred going to the dealership and to my favorite and trusted businesses before making a purchase even though it was free somewhere else.
When purchasing a coupon book I really had no choice in determining what coupons I would get, until now. All I have to do is get my Groupon and wallah!!! I decided what coupon I want and when and where to spend it! There is one catch though... You seriously need to get your Groupon. By getting your Groupon if enough people decided to purchase this coupon the coupon becomes valid. This is where you turn into a pro salesman and get all your buddies and family into the Groupon in order to get the coupon.
Is this new method for getting coupons working and is it a profitable business? It has $1billion+ in valuation...... in 16 months... And, It receives monthly traffic of about 3 million people. A TC Teardown Of course this is working!
Recently Google tried to acquire this company but was unsuccessful in the process. It's not that Google did not offer enough money but it was Groupons decision not to sell. If Google wants to buy anything and throw that much money at you. It means you are worth something! Did Groupon make the right decision in not selling to Google after seeing all the green flashing in front of their eyes? Only time will tell. It's up to the people running this online sight to determine the its future. As for an increasing amount of competition with other sites offering the same services... Competition is a good things and maybe the Groupon quotas for achieving your coupons will come down and it will be easier for me to get better pizza deals.
Speaking of, just got hungry after writing this. I think I'll get my Groupon right now and see what food specials there are out there.
Salomon
I feel like GroupOn's only real chance of success by not selling itself out to Google is instead buying up all the competing services being offered around the globe. By reaching a broad international status quickly, they can stay far ahead of any local competitors. Their margins are beautiful, but like we learned recently that may not last for too long.
ReplyDeleteIt's kind of funny how this one article tries to break down why GroupOn's financial statements make no sense.
Either way their time in the spotlight is fading and they need to adapt and evolve to survive.