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Couponing: Who is the most successful of them all?

7 Mar. 2011 | Author: Ute De Mitri | german

Groupon has allegedly raised its profit over 2200 percent within just one year, according to media reports. No surprise that other companies want to get a share of the pie: Qype has taken over cooledeals and started QypeDeals.com, Payback takes former cooledeals CEO under its wing to expand its own couponing market. And of course, all three of them are dying to call themselves the market leader.
Now one at a time: The Wall Street Journal (WSJ) reports based on an internal email sent to employees in January from Groupon founder and CEO Andrew Mason claiming there has been enormous growth in profit: from 33 million dollars in 2009 to 760 million at the end of 2010. According to the WSJ, Mason has not only made it his priority to remain the market leader for online deals in 2011, but also has the goal of becoming one of the leading tech-brands out there. This was not confirmed by Mason or a Groupon spokesman. Exact numbers aren’t really that important: it’s the incredible growth that’s important.
Probably the reason why deals seem to be popping out the ground like weeds. More and more internet servers are integrating coupons. The newest player is Qype: Europe’s leading rating-community has taken over the deal-portal cooledeals and started up QypeDeals.com on March 1st, also offering coupons for local deals. Neither company mentioned the purchase price. Thomas Bernik, one of the founders from cooledeals, not only sees great potential for the merging of the two companies, but also hopes to see QypeDeals to become the market leader in the couponing sector, according to a press release. Whoever talks like that after his company was just bought out either has the next plans for a successful project ready to go, or has a nice offer from the buyer in his pocket.
Meanwhile, the second founder of cooledeals Michael Stephan has found a new operation: about a week ago, Germany’s retail bonus market leader, Payback, announced that Stephan would be taking over “Payback Local”, making him in charge of the couponing department for local deals. Payback would like to take a step into the deal market with help from Stephan’s experience. “In 2011, we will send our customers more than one billion Payback coupons. That already makes us the couponing market leader in Germany,” according to CEO Bernhard Brugger. A small correction on our part: “would makes us” would be more suitable. The race of the couponing cup is well on its way.

Couponing: Who is the most successful of them all?
Posted in Web Communities, World Wide Web, Local Search, News, Practical features | Tags: , , , , , ,

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