lead: group purchase website Groupon only in more than two years of time has accumulated 60 million registered users, attracted over $1 billion in venture investment, annual revenue reached $760 million, becoming the fastest growing Internet companies. New York Times recently wrote a special analysis of the current competition in the industry to imitate the phenomenon of Groupon business model, and cited a number of elements needed to succeed.
below is the full text of the article:
many emerging network companies are now beginning to imitate the group buying site Groupon business model, to provide consumers with the daily necessities of life need to buy cotton fabrics, barbecue equipment and other supplies. Groupon’s rivals are now known as starstruck, blindly follow the trend, but also mimic the name, there is no reason to blame them. Group purchase website Groupon only in more than two years of time has accumulated 60 million registered users, attracted over $1 billion in venture investment, annual revenue reached $760 million, becoming the fastest growing Internet companies. Last December, Groupon also rejected Google’s $6 billion bid.
Groupon so this very attractive business model are quickly imitated: first find a local businessman as a business partner, then by e-mail to send large amounts of the merchant discount products or services, and then put half of revenue in their pockets.
Groupon’s biggest rival LivingSocial to Amazon has reached a $175 million investment deal, not only that, like Facebook, Yelp, Travelzoo, OpenTable such an important site, even Google are beginning to be some functional properties of Groupon into the home site. Although these imitation objects in the form of the site to do, but did not attract a large number of user groups, but their idea is rapid growth in the premise of assuming a smaller risk may also make a big profit.
that’s not going to work, it needs to pay attention to some strategies:
open up your exclusive group
if you are a member of a special group, then you may be searching for: Groupon. For example, you are African American, there is the Black Biz Hookup community; if you have a small business, there are GroupPrice sites to help you sell.
in November last year, the 37 year old Jordi · Samuels (Jodi Samuels) and 43 year old Allen (Allen Ganz) · Ganz in New York set up a Jewish group purchase website Jdeal. The site has recently offered half price tickets for cheap donuts and a Jewish choir.