A few months ago,I was exposed to an interesting site called ‘Groupon’ while I was web-surfing. Groupon is a deal-of-the-day website where people personalize their deals to filter only those that individuals want (different categories, locations, etc.) Groupon offers deals that vary from a $20 one-month membership to Steve Nash Fitness World to a $70 dinner cruise for two, each having a value of $115 and $145 respectively.
Right away, I signed up to receive their deals.
Then, a few weeks later, this article captured my view:
Groupon Turns Down Google’s $6 Billion Offer (http://mashable.com/2010/12/03/groupon-google-no)
Of course, there was a reason to this. The article stated that “Groupon generates $2 billion in yearly revenue,” making the offer not worthwhile. Also, Groupon has potential to become something bigger. However, it should work on building long-term relationships with the customers because there are already Groupon clones, and these have the opportunity to overtake the original.
In the long run, Groupon is a great website in terms of its ideas, but it needs to secure itself from other corporates to take over.