Groupon originally was founded as "The Point," an online fund-raising service that used the "tipping point" concept (donations had to reach a specified level before any of the donations were accepted). That now is the foundation for the group buying concept as well: offers aren't triggered unless there is a minimum take rate.
Friday, March 4, 2011
Groupon: The Accidental Success
If you ever have been part of a start-up, you know that a successful business model sometimes just emerges in a way that was unforeseen in the original business plan. In Groupon's case, the successful model was something of a "Hail Mary" pass to save an original vision, an online fund-raising service, from collapse.
Gary Kim was cited as a global "Power Mobile Influencer" by Forbes, ranked second in the world for coverage of the mobile business, and as a "top 10" telecom analyst. He is a member of Mensa, the international organization for people with IQs in the top two percent.
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