Groupon News Today: Auto Deal Fell Flat
Over the weekend we learned that Groupon’s auto deals didn’t make the intended splash – there were only four takers for the $500 discount on a new car at a Detroit dealership. Media outlets continue to painstakingly break down the company’s amended S-1 filing, with the Wall Street Journal pointing out that some investors put in far less than they’ll reap when the company goes public. Read on:
- Groupon’s first foray into big-ticket items didn’t do so well, for a few reasons. (Crains)
- …not that it’s bothering co-founder Eric Lefkofsky. (Wall Street Journal).
- Meanwhile competitors are expanding and testing new routes to compete: BuyWithMe acquired loyalty card provider Edhance, Inc., originally marketed to college students. (BusinessWire).
- ...and Gilt City, which offers deals on luxury goods and services, added four cities, including Dallas and D.C. (Wall Street Journal).
Today's Deal: 73% off a cooking class at Raw Gourmet International.