Groupon NOW Needs Time to Develop

by anonymous on 2012-02-19 16:21:19

Compared with Groupon's current main business of group buying, Groupon NOW is a relatively newer business. Using this service, Groupon users can search for deals near their location that will be available within the next 1-2 hours. Mason stated that the company’s group-buying customers are also using Groupon NOW; however, the CEO emphasized that the growth of the new service might take longer. At the Goldman Sachs Technology and Internet Conference in San Francisco, Mason said, "Although all indicators are moving in the right direction, I expect no significant growth in the next 1-2 quarters. This is a long-term investment." He also mentioned, "In three years, the company has grown from nothing to its current scale, becoming the fastest-growing company in history," showing that the company has numerous opportunities, "We have cracked the code of this industry." Although he admitted that Groupon is still just starting in developing the market for group-buying and local deal commerce, in a few years people will find that life without Groupon becomes unimaginable.