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This is the original Groupon business model, interesting that it ended up being successful. It started as ThePoint.com, a site launched in November 2007 that l
by klochner 13y ago
This is the original Groupon business model, interesting that it ended up being successful.
It started as ThePoint.com, a site launched in November 2007 that lets you start a campaign asking people to give money or do something as a group--but only once a "tipping point" of people agree to participate.
Founder Andrew Mason and his investors soon realized The Point was headed toward failure, and fast. The founders worked on it a year and they went through about $1 million but got no traction. Its business model was not working.
- jonathanjaeger 13y agoA lot of it has to do with time and place along with execution. Crowdfunding is much more a household term with the likes of Kickstarter and other popular sites. Not to mention the ease of payments and spread of mobile apps has helped these sites too.
- toddmorey 13y agoThat is interesting, though I'd guess that most of the investor interest is in "Crowdtilt Extended", which are their branded campaign pages and API. That is, being a Twillio of the crowd funding industry may be what's attracting the money.
- pbreit 13y agoFirst, a comparison to Groupon is inappropriate since the markets served are significantly different (CrowdTilt is more like Kickstarter). Second, that a concept supposedly failed (not clear that the concept was ThePoint's main problem) does not weigh heavily on if the concept works with a different team in a different way, etc.