Facebook plans to test a Groupon-like service on its social network to link its users up to local discounts. The privately held company said it would initially roll out the service to Dallas, Austin, Atlanta, San Francisco and San Diego. Such a move will plump up Facebook's current Deals offering via its creepy Places service, …
Where Google fails... Facebook could compete with Groupon.
I know Groupon has some 'patents' but I don't know how much protection those patents can or will provide.
Since Facebook is the ultimate social site where companies already have a presence and entice people to 'like' their product campaigns... Its a natural fit.
I give it a thumbs up because its shows market evolution and forces at work.
""You dine out, you go to concerts, you do outdoor activities. We want to make sure those experiences are maximised.""
Yeah well, apart from not having any local info on my FaceAche profile various sites look at my IP address and tell me I'm in some very odd places.
...just started doing the same, another "natural fit." I never understood why Google was willing to pay so much for Groupon, and even less why Groupon turned them down. It's the tech boom all over again.
Paris, 'cause she also parties like it's 1999.
Groupon is still expanding and its making a shit load of money.
So 6-7 times sales/revenue doesn't make a whole lot of sense.
After the first 10+ million in the bank, it doesn't really matter, right? Its more money than you can spend. (Unless you have tiger blood, then hookers and coke don't come cheap. :-)
So Google's price was relatively low, and Groupon will probably make more money in the next 5-6 years even with competition than what the deal represented. (Taxes, payout of VC money, etc...)
Take the company public and you will see a lot more money dumped in than Google's offer...
But I think Facebook can give them real competition...
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