Groupon.com / Andrew Mason
Groupon Founder Andrew Mason talks how they leverage the tremendous power of collective buying
I sat down with Andrew Mason (29), Founder and CEO of Groupon.com to discuss the awesome ways they are helping people have fun in the city they live in and save money using the tremendous power of collective buying.
The company is going gangbusters. They offer users deep discounts on local deals – spas, sky diving lessons, hotels, restaurants, golf, whatever. Discounts range from 40%..90% of the normal price. If enough people buy into the offer “the deal is on” and everyone gets the deal. If there aren’t enough people, no one gets the deal. Groupon collects payment and passes it on, minus their fee, to the business.
What makes Groupon so compelling is that people have an incentive to get their friends involved to make sure the minimum is hit. Groupon deals are extremely easy to spread via Facebook and Twitter.
Their user acquisition costs? Zero.
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http://www.oestsetnochub.com oes tsetnoc
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http://www.ubervu.com/conversations/web20show.com/2009/11/episode-59-andrew-mason-and-groupon-com/ uberVU – social comments
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Barb McKnight
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http://dupermag.com/2010/07/07/el-problema-con-cuponzote/ El problema con Cuponzote | Dupermag
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http://adamstacoviak.com/posts/retired-the-web-20-show/ Retired: The Web 2.0 Show – Adam Stacoviak
