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Groupon Trouble

UPDATE Aug. 24, 2011
The onslaught continues:

  • Is Groupon Getting Desperate?” – “Groupon recently disclosed it owes more to merchants than it has in the bank; the online discounter stays afloat only by selling new Groupons. So the Groupon’s recent sales dive is particularly unwelcome.” “Wedbush Securities reports that Groupon’s ‘rapidly decelerating Q2 growth’ has driven down Groupon shares 20 percent in private sales.”
  • Is Groupon Circling the Drain?” – “They’ve laid off some 400 people nationwide, they’re replacing their sales chief, and it sounds as if they’re struggling to stay afloat, owing more money to merchants than they have in the bank.”
  • Groupon Hits Roadblocks in China and at Home
  • False ad suit can proceed versus Groupon: attorney” – “A proposed class action was filed against Groupon earlier this year by a tour operator in San Francisco, accusing Groupon of bait and switch advertising.”

If you read thru the stories below, it’s a lot of bad news for Groupon.  Just when business is exploding for them, an endless assault on the “group coupon” business model is unleashed.  It’s tuff to recover from endless national negative reviews like this:

Not exactly positive press, to say the least.

Our company, AdzZoo, which officially launched its Qnanza “coupon bonanza” program last month, aims to fix the holes in the Groupon game.  And AdzZoo is currently in the process of staking a serious claim in the coupon aggregration market, on the verge of announcing agreements with some top-name aggregation sites.  Stay tuned for those announcements.

For coupon aggregation sites like TheDealMap.com, the future looks much brighter.

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