Groupon is one of the only social start-ups to become profitable in its first year of business. The company is now valued at more than 1.35 billion dollars!
On www.therisetothetop.com– David, a St. Louis-based blogger and marketing guru, interviews a local wine bar that sold 4,200 Groupons at $18 a piece for $40 worth of food and drinks. (4,200 is A LOT of Groupons).
He asks the business owners about their experience with Groupon and the business owners deliver some helpful insights about what Groupon and other similar daily-deals competitors can offer your business. They talk about how pricing works and what the risks and rewards of this new form of marketing are.
Check out the video below. The interview actually starts at 3 minutes and 20 seconds into the video, so you may want to skip ahead.
Also related, this Inc.com article: Study: One Third of Businesses Don’t Profit from Groupon Deal.