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Groupon Mania. Anything for us?

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I'm sure many of you read the tech news sites and see the millions of dollars being invested in groupon.com and Groupon clones. It's unbelievable how such a simple yet brilliant idea is getting so much attention (and money).


Groupon looks to be very cloneable and if you do a Google search you'll see nearly 100 different freelance script requests being submitted by people who want it built as a standalone clone, WordPress, Joomla! or Drupal plugin.


The idea behind the site is that businesses will approach Groupon with a deeply discounted deal (often 40-80% off) and if a predetermined number of people "elect to buy" the deal then "it's on" and it actually happens. If it doesn't reach the quota then no one gets charged or gets the deal.


Users "elect to buy" the deal by going through the check out process and if the deal reaches its predetermined number of buyers then they will receive a printable coupon certificate and their credit card will be charged. Groupon gets their cut for facilitating the deal.


As you can see, this is a bloody brilliant idea for small businesses to make money. I fancy the idea of offering a plugin that does the same functionality for client's sites.


I think a similar product like this as a plugin or extension for sites would be a real game changer. People could run their own "mini-groupon" on their site.


Anyway, I'm sure some folks in this forum are on to this hot trend and have likely even got some developers working on it.


Share your thoughts below.

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  • 2 weeks later...

The tech blog TechCrunch.com have just done a Groupon Teardown where they use public information to try and work out just how much Groupon are pulling in, they reckon it's in the region of $40,000 per deal in profit since they take about 50% of whatever the customer spends.


And of course, with all this interest there are already companies developing Groupon clones. However, this seems to be a complete site rather than a mini-plugin application.

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