weeks - 1:01 pm on Jun 3, 2011 (gmt 0)
It's not as easy as it looks. I speak from a touch of experience.
Yeah, all us fools trying to make money with our sites, turns out that in order to be truly worth anything you should be losing BIG.
Anyway, some analysis is in and we are being told...
The social buying site on Thursday filed to go public, a hotly anticipated debut that could raise $3 billion, according to two people close to the company who were not authorized to speak publicly. At that level, the company would be worth roughly $30 billion, surpassing the value of Google at its initial public offering.
I have two retail clients who have tried Groupon and not been impressed with the results. And we have several local firms who are offering similar deals to retailers. Read the NYT feature in my first post on this thread and it's obvious (to me, at least) that that Groupon's idea is not scaleable.
I think Groupon has got a workable idea here. But, $30 billion? But, hey, they're not putting a gun to anyone's head.
I have a meeting next week with a regional direct mail service provider who wants to get into the Groupon biz and needs a website, FB, Twitter, email system, etc. They have a good relationship with about three dozen retailers in each of their five markets. I don't know why they shouldn't try it.