Quote:
Originally Posted by acctman
I personally think they should have sold when Google offered to buy them. I can understand not wanting to let go and dreams of being even bigger, but lets face it there is nothing unique about there business. It's been duplicated 6-10 times ... FB, Google, LivingSocial, Yelp, Foursquare, etc. all have groupon clones. Look at Digg should have sold when Microsoft wanted them.
|
Their story again and again was that the sole reason for not selling was because they believed they could do better with an IPO. I personally do not believe they have a future because it is a terrible business model. They rely on 10,000+ person sales force and a near 1 BILLION dollar marketing budget this year to hit the numbers they are hitting, none of which are sustainable.
It's also worth pointing out that facebook et al have failed in this arena. It's a horrible business model.
Good news for Groupon
The IPO came just in time...before the principles lost everything.
Bad news for Groupon... all ponzi schemes eventually collapse...
