Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
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Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#2Looks like businesses have collectively realised that groupon is a miserable deal and it's finally caught up with them, after having been running on fumes [1] for a couple years now.
[1] http://blog.bodellconsulting.com/2013/03/01/groupon-a-bad-de...
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#3Looks like businesses have collectively realised that groupon is a miserable deal and it's finally caught up with them, after having been running on fumes [1] for a couple years now. [1] http://blog.bodellconsulting.com/2013/03/01/groupon-a-bad-de...
Is it running on fumes? They still have significant revenues and loyal customers and a million sales people.
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#4Interesting when taken in the context of yesterday's Unit Economics post.
http://blog.samaltman.com/unit-economics
I have never seen Silicon Valley so willing to invest in companies that have well-understood financials showing they will probably always lose money.
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#5Even if it was a good deal, who has room in their life for the 1046-th marketing gimmick?
Please, interweb geniuses, think of something better.
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#6That's a long fall from Google practically begging them to take fat stacks of cash.
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#7Anyone getting their emails has known it was coming for a long time. They used up all the good places pretty quickly - they got the return customers and didn't need to re-run coupons. Now it's all weight loss scams, online courses "worth" $2k but sold for $20, and even sex toys lately.
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#8Interesting when taken in the context of yesterday's Unit Economics post. http://blog.samaltman.com/unit-economics I have never seen Silicon Valley so willing to invest in companies that have well-understood financials showing they will probably always lose money.
Groupon was a deliberately calculated scam once it started getting huge investment though. Investors are always willing to burn the long term (the public) if they can pop the short term (themselves).
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#9Looks like businesses have collectively realised that groupon is a miserable deal and it's finally caught up with them, after having been running on fumes [1] for a couple years now. [1] http://blog.bodellconsulting.com/2013/03/01/groupon-a-bad-de...
My brother in law runs a restaurant back east, and he said that Groupon has been a great channel for driving business. Anecdata, I know.
I think there's a business opportunity to help people running groupons capture the most value out of the leads (at the least, sign them up for an email newsletter).
Re: Groupon Is Laying Off 1,100, Shutters Operations in 7 Countries
#10Will Groupon founder Brad Keywell's newer venture, Uptake, face a similar outcome? A recent Forbes article suggests he's better at starting a company than running it.