Groupon will replace 1 in 10 sales staff to ensure growth

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.

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