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(Business Insider)   Remember Groupon? Yeah, nobody else does either   (businessinsider.com) divider line 72
    More: Sad, Groupon, LivingSocial, Google Ventures  
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6178 clicks; posted to Business » on 12 Nov 2012 at 3:11 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



72 Comments   (+0 »)
   
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2012-11-12 10:31:53 AM  
I don't understand how you can have a business based on taking HALF of the profits from thousands of other businesses and still come up with losses. Only idiots list at a loss on those websites, I also sell extra products to 99% of people who have bought a voucher and they spend an average of $60. Sure, repeat customers are running at 8% for me but I get referrals from friends and family of those clients and have done very well.
 
2012-11-12 11:12:39 AM  
You know they have to still be kicking themselves for not taking the Google offer.
 
2012-11-12 11:39:49 AM  

clancifer: You know they have to still be kicking themselves for not taking the Google offer.


$6 billion. There is not one good reason for not taking the money. They deserve to fail based on that decision alone.
 
2012-11-12 11:48:15 AM  
Got dammit, if the internet can give me the latest deals on low-budget cosmetic surgery options, who can?  I better get a boob job on the cheap before the whole thing swirls down the drain.
 
2012-11-12 11:52:57 AM  
I typically use between one and three a month. Just this weekend I ran in a 5K with a half-off Groupon. From what I understand it significantly increased the number of participants they got.
 
2012-11-12 12:16:58 PM  

Sybarite: I typically use between one and three a month. Just this weekend I ran in a 5K with a half-off Groupon.



Indecent exposure?
 
2012-11-12 12:19:19 PM  

IamPatSajak: I don't understand how you can have a business based on taking HALF of the profits from thousands of other businesses and still come up with losses


the owners lied about their numbers, took huge salaries and bonuses and the company always ran in the red?
LOL
 
2012-11-12 12:20:52 PM  

joshiz: clancifer: You know they have to still be kicking themselves for not taking the Google offer.

$6 billion. There is not one good reason for not taking the money. They deserve to fail based on that decision alone.


Actually, Groupon could not take the money. Google was requiring Groupon to open its books before the sale would be final. Google would have detected the fraud in 2 seconds and would have not completed the deal. And possibly turned them over to the SEC for fraud.
 
2012-11-12 12:53:18 PM  
I'm surprised that the percentage of unhappy retailers is only around 32%. (Yeah, the survey only included 115 retailers.)
 
2012-11-12 01:22:14 PM  

BarkingUnicorn: I'm surprised that the percentage of unhappy retailers is only around 32%. (Yeah, the survey only included 115 retailers.)


My mom manages a day spa and they hate Groupon. Living Social has been much better for them. The clientele is much nicer, they tip on the real value, and has resulted in more memberships and repeat business.
 
2012-11-12 02:56:17 PM  
I'll never understand why any business would want to use groupon.  My sister does the groupon thing (as a customer, that is).  Most everything her and her friends do... they would never have done without groupon, and won't do again.  Skydiving, restaurants beyond their budget, etc.
 
2012-11-12 03:01:19 PM  

downstairs: I'll never understand why any business would want to use groupon.  My sister does the groupon thing (as a customer, that is).  Most everything her and her friends do... they would never have done without groupon, and won't do again.  Skydiving, restaurants beyond their budget, etc.


It drives new business. People who otherwise would not have tried something (such as your sister and her friends) might find that they like and it do it again at full price. And it's got a bigger reach than a sale you would run yourself.

Mom's crunched the numbers and they have had an increase in new, repeat customers from those offers. But as I said, Living Social is more attractive to them. According to TFA which I've now read, sounds like neither is faring too well.
 
2012-11-12 03:26:08 PM  
Groupon

Groupoff

Groupon, Groupoff

The Grouper!
 
2012-11-12 03:27:58 PM  

Englebert Slaptyback: Groupon

Groupoff

Groupon, Groupoff

The Grouper!


www.floridanooilonourbeach.com
 
2012-11-12 03:29:18 PM  

downstairs: I'll never understand why any business would want to use groupon.  My sister does the groupon thing (as a customer, that is).  Most everything her and her friends do... they would never have done without groupon, and won't do again.  Skydiving, restaurants beyond their budget, etc.


That's the downside of offers like this--you get a lot of people who will only ever use your service/establishment because they have a coupon. I've used both Groupon & Living Social and they're about the same. They both started out well with decent offers--everything from the typical restaurants, hotels, and salons to cool stuff like horseback riding, historic house tours, and cupcake decorating classes for kids. Now the deals are far less attractive, consisting almost entirely of dinners for 4 or people wanting to touch me. I've used a few of the restaurant deals and I've found a couple of decent places that I've since gone back to. If it's a restaurant outside my budget and it's absolutely amazing, I'll still go back. I'll just take a client there & use the expense account, though.
 
2012-11-12 03:33:20 PM  
I paid $2.50 for a month of Fark.
 
2012-11-12 03:36:59 PM  
Gee, a company that sends "savings" for things such as "buy 300 dollars of stuff and get 5% off!" and "free offer when you sign up for sixty gazillion e-mail offers!" is failing? No shiat.
 
2012-11-12 03:44:03 PM  

clancifer: You know they have to still be kicking themselves for not taking the Google offer.


That deal never would have happened... the numbers would not have stood up to the due diligence. It would have been a lot worse to accept it and have it blow up; instead they used the rejection as a "sign" that they were more valuable than that.
 
2012-11-12 03:44:17 PM  
I could do my own local version of a daily deals website and keep the revenue for myself and maybe two or three cohorts who go around signing up businesses for the deals. Hell, in the Metroplex we could do fifteen daily deals based on the smaller cities, get more local that sending Lewisville people offers for dance lessons in Plano.

There's lots of people who know how to push advertising to businesses with ClearChannel reducing head count through consolidation of the advertising sales departments.

Oh, and since we'd be a local operation with a tiny headcount and keeping profits for ourselves we could settle for 35% of the offer price rather than half.

/Then another team would rise up and undercut me
//And we undercut them
///And the whole thing goes away after a brief shootout.
 
2012-11-12 03:45:51 PM  

BalugaJoe: I paid $2.50 for a month of Fark.


just regular Fark? you got ripped off
 
2012-11-12 03:51:20 PM  
sorry, like coupons...I just don't have the time or mind to coordinate or remember to use them.

I simply just keep track of the discounts at the stores I go to.
And which has the best prices.

Buy what you need and use is my method.

/good luck
 
2012-11-12 03:55:46 PM  
The problem is that it sounds too much like spicy brown mustard.
 
2012-11-12 03:56:11 PM  

rogue49: Buy what you need and use is my method.


Thanks for nothing, COMMIE!
 
2012-11-12 03:57:26 PM  
No doubt they'll act surprised despite everyone with a basic grasp of logic pointing out their doomed business model 2+ years ago.
 
2012-11-12 03:59:34 PM  
I like Groupon. I've found some very interesting restaurants and a few very interesting experiences through them. I may never have found how good Turkish food was without them, or Rodizio which is awesome, and I never would have found the best haunted hayride I've been to without them. I've gone back to several of the businesses I purchased groupons for. Not ALL the businesses that I've purchased groupons for will see return business (glass blowing springs to mind, a few restaurants that had bad service, who were too far away for me to visit without having a good reason, or whose prices prohibit me from frequenting without a groupon or a better job) but several of them will and have had me return.

/I also use Restaurant.com... which isn't as good, but I get the feeling is SLIGHTLY better for the restaurant
//I wish another groupon for Blue Water Seafood Company would come out, too expensive for me otherwise...
 
2012-11-12 04:01:47 PM  

Jurodan: I like Groupon. I've found some very interesting restaurants and a few very interesting experiences through them. I may never have found how good Turkish food was without them, or Rodizio which is awesome, and I never would have found the best haunted hayride I've been to without them. I've gone back to several of the businesses I purchased groupons for. Not ALL the businesses that I've purchased groupons for will see return business (glass blowing springs to mind, a few restaurants that had bad service, who were too far away for me to visit without having a good reason, or whose prices prohibit me from frequenting without a groupon or a better job) but several of them will and have had me return.


Cool story bro. You're the rare exception.
 
2012-11-12 04:02:45 PM  
i pay half of nothing for regular Fark
 
2012-11-12 04:05:04 PM  
I've found some restaurants seem to have switched over to this weird model, where they are massively overpriced but have a weekly Groupon of some sort. One of the local sushi places jacked its prices by 30% but is always issuing Groupons and coupons in the local paper.

/I don't go to them anymore
//yes I still get the local paper
 
2012-11-12 04:07:25 PM  
That's why I do all my shopping with UrbanFetch
 
2012-11-12 04:09:28 PM  
Groupon is the Yelp of the online coupon industry.

/wait? wut?
 
2012-11-12 04:10:11 PM  

joshiz: clancifer: You know they have to still be kicking themselves for not taking the Google offer.

$6 billion. There is not one good reason for not taking the money. They deserve to fail based on that decision alone.


There are plenty of reasons not to take the money, but none of them are good. The #1 thing is "I can do this better than google" or "I'm faithful to my customers" both of which don't actually matter. The Foursquare guy sold "dodgeball" (the exact same thing as foursquare) to Google before starting foursquare. It became Google Latitude, which no one uses.

So yeah, you can do this better than Google, clearly. You started with $0 and did it better. Now try starting over with any portion of the 6 billion they gave you.
 
2012-11-12 04:13:20 PM  

BalugaJoe: I paid $2.50 for a month of Fark.


DREWPON!
 
2012-11-12 04:17:37 PM  

namatad: Actually, Groupon could not take the money. Google was requiring Groupon to open its books before the sale would be final. Google would have detected the fraud in 2 seconds and would have not completed the deal. And possibly turned them over to the SEC for fraud.


So groupon turning down several buyout requests from various tech companies has something to do with the fact that Google made requests of them to open their books? Really? You do realize for groupon to go public - they have to open up their books to both investors and the SEC right?

/there is nothing fraudulent about groupon - its just a shiat company in a low margin industry
 
2012-11-12 04:19:05 PM  

namatad: joshiz: clancifer: You know they have to still be kicking themselves for not taking the Google offer.

$6 billion. There is not one good reason for not taking the money. They deserve to fail based on that decision alone.

Actually, Groupon could not take the money. Google was requiring Groupon to open its books before the sale would be final. Google would have detected the fraud in 2 seconds and would have not completed the deal. And possibly turned them over to the SEC for fraud.


The SEC rarely persues fraud against listed companies, why would they investigate a private company for fraud??
 
2012-11-12 04:26:09 PM  
Farking PEP BOYS popup ad on fark?

ARE YOU FARKING KIDDING ME?!
 
2012-11-12 04:28:12 PM  

SDRR: Englebert Slaptyback: Groupon

Groupoff

Groupon, Groupoff

The Grouper!

[www.floridanooilonourbeach.com image 565x370]


I'd buy that one.
/and eat it!!!
 
2012-11-12 04:32:23 PM  
Groupon used to be an insider thing, where a limited number of passes were available for sale and the deal would only be a "go" if the minimum number of people were reached. I liked that - it would be along the lines of "$20 for $30 worth of food at X restaurant for lunch" or "Half off Bulls tix for the first 80 people". Small deals, small clientele, but you almost felt like it was a private club. Nowadays, every deal is tipped, and they sell tens of thousands of deals. It's lost the charm factor; now it's just the same as any other coupon site, except with more e-mails and annoying colors.
 
905
2012-11-12 04:47:41 PM  

nytmare: BalugaJoe: I paid $2.50 for a month of Fark.

DREWPON!


Who then turned right around and spent the cash on a trip to Florida...

TAMPON!
 
2012-11-12 04:49:04 PM  
never bought one. i have about $60 worth of free groupons from about 18 months ago when they were giving $10-20 free groupons for any email that signed up to the service but never bought one. almost all of the daily groupons are for the large town 45 minutes away. its not worth my time and gas to use them. maybe i should do takeout at 3-4 restaurants and bring $60 of food home.
/yeah i know. the restaurants will never see me as a repeat customer and it shafts them.
 
2012-11-12 04:56:35 PM  

BalugaJoe: I paid $2.50 for a month of Fark.


Did you pay $8 for the half-off coupon?
 
2012-11-12 05:00:24 PM  

joshiz: clancifer: You know they have to still be kicking themselves for not taking the Google offer.

$6 billion. There is not one good reason for not taking the money. They deserve to fail based on that decision alone.


Holy crap! Not this derp again. They couldn't take the deal because their financials weren't in order. FFS, people!
 
2012-11-12 05:04:26 PM  

BalugaJoe: I paid $2.50 for a month of Fark.


*wipes chin*

You got off easy, pal.

/Wait, you mean I could have created an account for free?
//DRRREEEEEEEEWWWWWW!!!
 
2012-11-12 05:26:52 PM  

Shaggy_C: Groupon used to be an insider thing, where a limited number of passes were available for sale and the deal would only be a "go" if the minimum number of people were reached. I liked that - it would be along the lines of "$20 for $30 worth of food at X restaurant for lunch" or "Half off Bulls tix for the first 80 people". Small deals, small clientele, but you almost felt like it was a private club. Nowadays, every deal is tipped, and they sell tens of thousands of deals. It's lost the charm factor; now it's just the same as any other coupon site, except with more e-mails and annoying colors.


Every deal tips because they got rid of the tipping point aspect of the deals.
 
2012-11-12 05:46:49 PM  
Yes. I remember saying that a website with an easy-to-copy business model that capitalized on a temporary recession wouldn't live very long.
 
2012-11-12 05:58:51 PM  

Honest Bender: Holy crap! Not this derp again. They couldn't take the deal because their financials weren't in order. FFS, people!


That's not what this says: Link

2 out of the 3 reasons mentioned there are holding out for more money.
 
2012-11-12 06:03:06 PM  

Sybarite: I typically use between one and three a month. Just this weekend I ran in a 5K with a half-off Groupon. From what I understand it significantly increased the number of participants they got.


So you only ran a 2.5k or was it a 10k that was knocked down?
 
2012-11-12 06:22:35 PM  

clancifer: You know they have to still be kicking themselves for not taking the Google offer.


It's right up there with invading Russia in the winter and IBM letting Microsoft keep the rights to DOS.
 
2012-11-12 06:47:02 PM  
Sad? Sad like ... that Groupon was ever even a thing? Fair enough, if so.
 
2012-11-12 06:58:30 PM  
After about two weeks of them emailing me coupons for shiat I would never want, I quit. Or blocked their email, I don't remember.
 
2012-11-12 07:13:31 PM  

BalugaJoe: I paid $2.50 for a month of Fark.


It's worth more?

/No, no it is not.
 
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