Just like the tablet or mobile wars, the race for the best “daily deals site” is really starting to get vigorious. April 25thas ended the rumors about Facebook’s own daily deals site a long time ago when news was broken out that Facebook Deals is finally launched. This is the most powerful social media platform’s latest strategic move to diversify its revenue stream beyond advertising and become a name in the rapidly growing online bargain space. The site only started offering bargains to the US cities of Atlanta, Austin, Dallas, San Diego, and San Francisco at launch but the question keeps going bigger and bigger: Will it be able to beat the current dominant player Groupon? (Kirkpatrick, 2011)
Have you ever heard of Groupon? If not, you either must have had your head stuck in the sand lately or none of your friend is nice enough to tell you… But either way, you probably have missed quite a few hot deals! So what is Groupon all about and why it is considered as the fastest growing online company ever?