Nope; it's mostly their ethical void. The business boils down to temporarily delaying payments to merchants, in the meantime reporting those payments as revenue

Nope; it's mostly their ethical void. The business boils down to temporarily delaying payments to merchants, in the meantime reporting those payments as revenue. This inflates the value of the company and misleads investors into believing their business model is more viable than it actually is. On the flipside, their customers (merchants) are reporting that they do not see the conversion rates that Groupon advertises to lure them into a deal. In response, they try things like raise their prices prior to honoring a deal, which further dilutes the value of Groupon's product.