Morris Bryant offers up an alternate view about the benefits to business of the group buying market.
“The deals addiction isn’t going to keep the industry afloat, it’s only going to ruin it – but the problem doesn’t just lie with consumers.”
In this video, Dynamic Business blogger Jack Delosa interviews Dean McEvoy, founder of Spreets. The group buying site was sold to Yahoo!7 for $40 million in January, just 10 months after the business was started.
Australians may be addicted to a bargain and flocking to the numerous collective buying websites in droves but are some better than others, and is the customer base large enough to go round? If the answers is “yes”, and “no”, that may explain why the various daily deal sites are tripping over each other to proclaim themselves leader of the pack.
OfferMe, the first company to bring Groupon’s group coupon buying model to Australia, announced that it has had to look outside Australia for investors, but is on the verge of finalising a Series A round of substantial venture funding.
Cudo.com.au the NineMSN affiliated Groupon clone that launched in September last year has taken the crown of the most visited site in its category just as rival Spreets was bought by Yahoo!7 for $40million.
Spreets, one of the many Groupon clones to startup in Australia has been bought online media company Yahoo!7 for around $40 million in the wake of similar deals by Channel Ten with OurDeal last year and rival NineMSN backed Cudo.
Jump On It, one of the myriad Groupon clones in Australia yesterday announced it has secured nearly $5 million in funding from US online group buying company LivingSocial.
Groupon clone ‘OurDeal’ has been bought into by Network Ten today, with the broadcast network looking to leverage its mass consumer reach to promote OurDeal’s discounts and offers.
Catchoftheday.com.au was founded in 2006 by Gabby Leibovich and his brother Hezi. Loosely modelled on an American concept of one deal, every day, the business has caught on in a big way in Australia, topping the Hitwise rankings in its category.
Groupon clone OurDeal is hoping online group coupon ordering won’t be an ordeal as it tries to replicate the success of Groupon clones Spreets, Ouffer and Jump On It in the Australian market.
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