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.
- Hi-torque tank engines: EXTREME car hacking with The Register
- Review What's MISSING on Amazon Fire Phone... and why it WON'T set the world alight
- Product round-up Trousers down for six of the best affordable Androids
- Antique Code Show World of Warcraft then and now: From Orcs and Humans to Warlords of Draenor
- Why did it take antivirus giants YEARS to drill into super-scary Regin? Symantec responds...