Please may I have some more sir?
From the Economist on the Groupon IPO :
"Groupon will lose $280m on revenues of $1.69 billion in 2011"
"Its business model is unpatentable and simple to replicate, so there are already more than 20 copycats."
"Its marketing costs are expected to be a painful $958m this year."
958 MILLION dollars on marketing in order to lose 280 million dollars.
This all smacks too much of the late 90s. Remember boo.com, a company which "spent $135 million of venture capital in just 18 months, and it was placed into receivership on 18 May 2000 and liquidated" (wikipedia)? But boy did they have some fun.
- Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
- China: You, Microsoft. Office-Windows 'compatibility'. You have 20 days to explain
- Apple to devs: NO slurping users' HEALTH for sale to Dark Powers
- Is that a 64-bit ARM Warrior in your pocket? No, it's MIPS64
- Apple 'fesses up: Rejected from the App Store, dev? THIS is why