Not a long ago Groupon declined a $6 billion takeover bid by Google. Many people wondered whether that was the best decision for Groupon shareholders. Frankly it needs balls to reject such an offer to a company that works with limited entry barriers. Soon thereafter AP reported that Google has started working on their own version of Groupon.
Now Facebook has joined the party. Recently a friend who manages a boutique in Binghamton showed me the promotional material below that Facebook mailed her. The small brochure basically gives details about the Facebook app that will give out the deals to people. There are four types of deals that are available currently:
1. Individual deals – one time deal
2. Loyalty deals – for your loyal customers (2-20 check-ins make you loyal)
3. Friend deals – deals for a group of up to 8 people
4. Charity deals – donate to the charity every time someone makes a purchase
It looks like the entry barriers were really low!