Thursday, July 16, 2009
GROUPON - ONE PART DAILYCANDY, ONE PART URBANDADDY, TWO PARTS HAUTELOOK AND A DASH OF THE TIPPING POINT
I don't know about you, but it takes a lot these days for me to really be impressed by a new idea on the Web. So when I came across Groupon (via an ad on Facebook if you can believe it!) and saw what it was all about, I immediately became a fan -- and I'm pretty sure most of you who end up checking it out will feel the same way.
So why the corny title to explain what Groupon you ask? Good question for sure - - - it's partly because I'm cranking this blog post out at 3:3o in the f***in' morning (don't ask!), but really more so because it's the only way I could think of to capture the essence of what Groupon is all about in one sentence.
In a nutshell, Groupon is an online service that offers users a daily deal on the best stuff to do, see, eat, and (most importantly for their business) buy in a handful (14 to be exact) of major U.S. of cities. The geo-specific aspect of their site reminds me of products like DailyCandy or UrbanDaddy - hip and relevant insight into the cool stuff in your city. But unlike these informational-based businesses, Groupon goes a step further by offering users the ability to take advantage of limited time deals (called "flash sales" by the likes of HauteLook and others) being offered by various local vendors. And here's the interesting twist -- users can buy into these limited time offers but their order will only go through once enough other users have also bought the same offer within a certain pre-determined time period (usually 24 hours) -- hence the "Tipping Point" reference.
Take me for example -- in the last week I've already pulled the trigger on two Groupon offers - two one-hour massages at a local holistic spa for my wife for $54 (a 50% savings); and four 90 minute sessions -- which includes a 30-minute golf lesson and 1 hour use of the indoor golf course simulator -- at a place called Players Club Golf in Santa Monica for $30 each (a $320 value). In fact I'm looking at an offer now from Reeder's Barbershop - $20 for a $50 MVP haircut, which includes a haircut, head massage, hand massage, hot towel, nape shave, free beer or soda, your own private flat screen with DirecTV access and, oh yeah, your "barber" is actually an young, attractive woman. The only downside to this offer is that it's limited to 1 per customer - but technically you can buy 4 more as gifts for friends. SEE BELOW to find out how you can win a free haircut!!
I encourage all of you to give Groupon a try - and I'd be surprised if you weren't hooked on it within days like I am! If you do check it out, definitely post comments below letting us know what you think.
P.S. -- I have 2 Groupons for the barbershop offer to give away -- first two L.A. based guys (sorry ladies!) to correctly list the current CEO's of HauteLook and UrbanDaddy in the comments section below will win - good luck!
Subscribe to: Post Comments (Atom)
Check out Plastic Jungle, run by Gary Briggs, ex-eBayReplyDelete
checked out the site, nothing interesting in my city.ReplyDelete
Hey Chris, I work for Groupon and worked with Reeders on the offer. I'm sorry to hear that we've turned you into a Groupon junkie :) I'm working diligently to continue to partner with unique businesses in both LA and San Diego. Stay tuned! Thanks for spreading the word, Chris.ReplyDelete
In case you're interested in some more of the economics behind Groupon's model, an econ phd student at the University of Chicago wrote a very insightful and easy to under paper describing it:
-Peter Anthony Jackson-
I recently subscribed and am happy I did. Not often I can say that.ReplyDelete
Here are your CEO's:
Hautelook:Adam Bernhard (CEO), and Lagovent Ventures Group Partners Brett Markinson and Konstantin Glasmacher.
UrbanDaddy: Lance Broumand
Let me know if I am correct?
Your Cousin Mickey Korac
This is a great idea for businesses in today’s economic trying times!ReplyDelete