There are almost zero barriers to entry. Groupon has a list of a few thousand merchants, a few million emails, 8000 employees, and sells a dollar for fifty cent

There are almost zero barriers to entry. Groupon has a list of a few thousand merchants, a few million emails, 8000 employees, and sells a dollar for fifty cents. How can you scale with so many employees and ever be profitable? It's not sustainable at all. They have no patents or any semblance of a defensive moat. Groupon is also declining in the cities it first launched in like Boston. Their future does not look good.