Groupon is poised to roll out the red carpet for its latest venture – one that aims to effectively influence our lives in a more direct way than Groupon ever has before. According to the company’s power players, “Groupon Now” will launch next month and supplement the daily Groupon deals “by offering time and location specific deals.”
When a user opens up the smartphone app, he or she will be presented with just two buttons: “I’m hungry” and “I’m bored.”
Groupon executives tell Reuters that either choice will spark a broad range of choices “depending on the time and location of the mobile user.”
In essence, the new service will bring actionable coupons and discounts to customers who can use them in the moment, rather than simply providing a random discount that may be fun to capitalize on next weekend.
The logic behind the offering is a win-win for both mobile customers and participating businesses. “By offering deals during slow business at specific locations,” Groupon says, “businesses can increase profitability, manage resources and reduce wastage… the hungry or bored consumer as they get a deal when and where they want it.”
“For merchants, the daily deal is like teeth whitening,” Groupon founder and CEO Andrew Mason tells Bloomberg, “and Groupon Now is like brushing your teeth. It can be an everyday thing to keep your business going.”
Last Thursday, MMW reported that Groupon is reportedly speaking with bankers about a potential Initial Public Offering (IPO) that could be valued at $25 billion.
By comparison, Google was only valued at $23 billion in its IPO.