Sep
29
I can't stress strongly enough the need to do your arithmetic before using Groupon.
For those of you who believe the damn silly Groupon marketing proposition and are about to believe everything their sales people tell you, set up your kamikaze discount and join the race to the bottom - here's a cautionary few words from the Economist this week...
"In a move that is likely to delay its long-awaited initial public offering yet again, Groupon, an online-coupon website, cut its sales figures by more than half, from $1.52 billion in the first half of 2011 to $688m. The firm cited an "error in presentation" in previous filings as the reason for the change in the latest submission. It had wrongly taken its sales to include the amount it has to pay to merchants when its coupons are redeemed."
It would seem that Groupon can't count either.
Is this a case of the blind leading the blind? Or is the whole idea really an "error in presentation"?
For those of you who believe the damn silly Groupon marketing proposition and are about to believe everything their sales people tell you, set up your kamikaze discount and join the race to the bottom - here's a cautionary few words from the Economist this week...
"In a move that is likely to delay its long-awaited initial public offering yet again, Groupon, an online-coupon website, cut its sales figures by more than half, from $1.52 billion in the first half of 2011 to $688m. The firm cited an "error in presentation" in previous filings as the reason for the change in the latest submission. It had wrongly taken its sales to include the amount it has to pay to merchants when its coupons are redeemed."
It would seem that Groupon can't count either.
Is this a case of the blind leading the blind? Or is the whole idea really an "error in presentation"?
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