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Showing posts with label LG social Commerce. Show all posts
Showing posts with label LG social Commerce. Show all posts

July 7, 2011

The Making of Groupon IPO: Infographic

IPO Watch: Grouponzi
Research and design by Online MBA Site

Groupon, which is arguably the biggest daily deals service around and has been called the fastest-growing company in history, is edging towards an IPO and Online MBA has published an infographic that details the finances and timeline of the company. While Groupon had 2010 revenues of $713 million, it had a loss of $413 million. The company has more than 7,000 employees and the business grew 2,241 percent between 2009 and 2010.|

Groupon — which last month was rumored to be partnering with Foursquare — filed the necessary paperwork with the U.S. Securities and Exchange Commission earlier this month for its IPO, through which it hopes to raise as much as $750 million. The company was valued at $25 billion in March. However, the company’s business model has been criticized – it costs Groupon $1.43 to make $1 in revenue and existing Groupon customers are purchasing fewer deals than they used to.

When compared to Facebook and Google, Groupon is far behind in the revenue stakes. Those companies make an estimated $170 million and $2.86 billion per month respectively, although those revenues are company-wide and not restricted to their daily deals offerings — Facebook Deals and Google Offers respectively.

Source : Scribbal

May 3, 2011

LG Social Shopping Service" Ding Dong" launches

Lg has gone social with its new service called “DingDong" Ding Dong is a social shopping service for the mobile platform, LG Uplus .The service provides smartphone users with information on franchise shops of diverse categories within the vicinity. If the user visits the shop, they automatically earns mileage points, which they can spend at the DingDong online mall.

“Small shops usually rely on ineffective marketing tools such as flyers. If they hand out flyers to a thousand people, only three or four end up entering the shop,” a representative for LG Uplus said. He cited statistics, according to which among the few who actually visit the shop, one out of four buy something. The point here is how to induce people to visit the shop, and DingDong focuses on this.  

LG Uplus expects DingDong to be about nine to 20 times more effective in marketing than conventional methods, as it provides information, coupons and other incentives for shoppers already near the locations of businesses.

According to Koreatimes Currently, around 1,000 shops, including cosmetics retailer The Face Shop and Beautiplex, as well as digital retailer PixDix have subscribed to DingDong as a franchise. LG Uplus plans to increase the number of franchised shops to 100,000 by the end of the year.

Smartphone users can download the DingDong application for free at application stores including Google’s Android Market, Apple’s App Store, or the T Store of SK Telecom and the OZ Store of LG Uplus.