Author tours have never been a guaranteed way to sell books, so many publishers have cut back on them. Togather, a new Brooklyn-based startup, hopes it can reinvent the author tour by guaranteeing that a certain number of books will be sold in advance.
The jump in Groupon’s offering price for its IPO, and the first day’s trading in the stock, says a lot more about the current bubble-style investment climate and an overheated stock market than it does about the potential value of the group-buying company.
Foodspotting, the app for finding and rating restaurant dishes, is getting in on the daily deals action. It plans to announce Tuesday that it is hooking up with Atlanta-based local deals purveyor Scoutmob to offer 50 percent and 100 percent off coupons for nearby restaurants.
Reports say Groupon has put its hotly awaited IPO on hold. But was it market volatility that pulled the rug out from under the offering, or the repeated missteps by the company and its CEO, combined with growing skepticism about the viability of its business model?
Exclusive: Group Commerce, a New York City-based company that sells a software platform to let publishers host their own daily deal applications, has acquired geo-location startup Socialight. The Socialight team and technology will be put toward fleshing out Group Commerce’s mobile strategy, said CEO Jonty Kelt.
Some critics argue that Groupon’s fast-growing business is a financial house of cards and that the company has no viable way of generating profits. Will CEO Andrew Mason be able to prove the doubters wrong, or will Groupon become the new millennium’s version of Pets.com?
The service provider responsible for Groupon’s daily e-mail deals, suffered a server outage this weekend that looks to have had a staggering effect on Groupon sales in several cities. This seems to play up Groupon’s overall dependence on emails as the primary method of subscriber interaction.
Groupon’s hotly-awaited initial stock offering will either stand as a beacon of hope to technology and Internet stocks of all kinds, or as a giant warning sign indicating a huge bubble of irrational exuberance. The company’s prospectus contains plenty of evidence for both sides.
Groupon, the social-buying phenomenon that has already raised more than $165 million in financing in the past year, is reportedly looking for another round that could give the company a market value as high as $3 billion, as it tries to continue its aggressive growth plan.
How do you compete with an 800-pound gorilla like Groupon? If you’re Tippr, you don’t. Instead, you arm websites with the weapons to do that themselves. The Seattle-based startup today launched a white-label platform that gives companies the tools to run their own group-buying campaigns.