The social-buying model offers a "deal of the day" to users, usually at a significant discount on a sought-after product or service in their city or town. Google is interested because deals are geared around specifically targeted local markets, which is seen as a big source of future Internet advertising growth. Google did not indicate when it expected to launch, but it is playing catch up in the sector after reportedly trying to buy market leader Groupon for as much as $6 billion before being rebuffed last month. Groupon, which is rumored to be doing $2 billion a year in revenue, has since increased its muscle by raising $950 million in financing, giving it a valuation of about $6.4 billion. In addition to Groupon, Google will have to contend with a host of " Groupon clones," including -backed LivingSocial, which recently made headlines and fans by selling more than a million $20 Amazon gift cards for $10 each.
0 Comments
Leave a Reply. |