caulfield12 Posted September 26, 2011 Share Posted September 26, 2011 http://news.yahoo.com/run-bad-news-continu...ZXN0Aw--;_ylv=3 Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 26, 2011 Share Posted September 26, 2011 Wow, that is some Enron-style accounting there... Link to comment Share on other sites More sharing options...
Balta1701 Posted September 26, 2011 Share Posted September 26, 2011 Whether this particular company will survive...i think the business model has been firmly established, and it certainly seems like 2-3 large national firms providing those services, some in real time through apps and such, is an entirely plausible future. If nothing else, it makes a lot more sense than having 16 different companies doing it in every city (Dealchicken.com? Seriously? We get dealchicken.com?) Link to comment Share on other sites More sharing options...
caulfield12 Posted September 26, 2011 Author Share Posted September 26, 2011 (edited) Well, I would imagine it would be pretty hard to patent or copyright the core business concept...I remember even a year ago here in Shanghai 20-something office workers talking passionately about a similar concept when we went to dinner. So maybe it will be a case like myspace where groupon is the first on the scene but doesn't survive long-term and/or make a 3-5 Chicagoans billionaires with the IPO probably dashed. You wonder with those 2 executives jumping ship though, if you'll have an Enron or Madoff type situation when they start digging through the rest of the books and revenue projections. But yeah....it makes sense to have one dominant company in this area that everyone looks to. Like books, you go to amazon.com or online auctions, it's e-bay, etc. Edited September 26, 2011 by caulfield12 Link to comment Share on other sites More sharing options...
Balta1701 Posted September 26, 2011 Share Posted September 26, 2011 QUOTE (caulfield12 @ Sep 26, 2011 -> 09:44 AM) But yeah....it makes sense to have one dominant company in this area that everyone looks to. Like books, you go to amazon.com or online auctions, it's e-bay, etc. Especially if you had a national corporation that really wanted to integrate itself with one of these companies. You get something that happens in an area, traffic jam or sporting event or something, suddenly all of the Olive Gardens in the Nashville area are 1/2 empty on a saturday night, you put out a coupon there in real time to make sure those seats stay full, you can't do that with a major company in real time unless you have a national option. Or, I'm traveling to Minneapolis for a conference, want to eat somewhere, no idea where to go, don't want to have to figure out what the local discount company is, etc. Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted September 26, 2011 Share Posted September 26, 2011 I'm still shocked they didn't sell when they had a great chance to do so. Link to comment Share on other sites More sharing options...
southsider2k5 Posted September 26, 2011 Share Posted September 26, 2011 QUOTE (NorthSideSox72 @ Sep 26, 2011 -> 12:10 PM) I'm still shocked they didn't sell when they had a great chance to do so. I wonder if their books being cooked are what stopped it? I bet they were hoping to get through the IPO and fix those problems before anyone noticed. Link to comment Share on other sites More sharing options...
mr_genius Posted September 27, 2011 Share Posted September 27, 2011 I thought it was common knowledge that was how Groupon counted revenue. I've known for a long time. Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted September 27, 2011 Share Posted September 27, 2011 QUOTE (southsider2k5 @ Sep 26, 2011 -> 07:37 AM) Wow, that is some Enron-style accounting there... I thought I heard that in a recent round of funding, something like 70% or more of the "funding" went to executives. Link to comment Share on other sites More sharing options...
RockRaines Posted September 27, 2011 Share Posted September 27, 2011 QUOTE (mr_genius @ Sep 26, 2011 -> 07:02 PM) I thought it was common knowledge that was how Groupon counted revenue. I've known for a long time. Its been whispered for awhile. Does anyone work there? I just had a presentation over there for software that would help track some of their revenue and people were exchanging looks the whole time. Link to comment Share on other sites More sharing options...
Y2HH Posted September 27, 2011 Share Posted September 27, 2011 QUOTE (mr_genius @ Sep 26, 2011 -> 07:02 PM) I thought it was common knowledge that was how Groupon counted revenue. I've known for a long time. What they were doing wasn't really "legal" or by the book...hence why they got b**** slapped when applying for an IPO to stop accounting like a bunch of idiots... Link to comment Share on other sites More sharing options...
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