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Groupon was never software or tech or even group buying. It was crowdfunded small business loans. The owner of a restaurant or service business could decide to
by mike_d 4y ago
Groupon was never software or tech or even group buying.
It was crowdfunded small business loans. The owner of a restaurant or service business could decide to take a loan now to increase capital flow in exchange for promising to pay out some multiple of that amount in goods and services over the coming year.
Blows my mind that the investors didn't realize this.
- fullshark 4y agoI think the premise was they were solving information asymmetry + price discrimination issues? Coupons are a still a thing, groupon was just online coupons which remains a seemingly useful thing.
- monksy 4y agoThat's pretty much the same business model as RewardsNetworks. At least one part of it.