The daily deal model: time to pivot or close shop?
LivingSocial recorded a loss of USD 566m for Q3 (having been valued at USD 934.5m in Q2 (source WSJ), it is a loss of 60% of its value. Groupon has lost 82.88% of its value since going public. 798 daily deal sites have shut down in the second half of 2011, according to Daily Deal Media. Prominent investors like Marc Andreessen are exiting their Groupon holdings. About 69% of merchants are not doing business with Groupon for the second time … .
I am not here to give advice but I thought this video about a startup band pivoting all the time in order to survive might be a good hint …
(Video courtesy of: Dennis Lavrenyuk YouTube channel)