Street Fight Daily: 08.18.11
A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
According to a new report from location-based media company JiWire, 53% of the “on-the-go” U.S. audience is willing to exchange their location in exchange for more relevant content and better information, including mobile deals. (TechCrunch)
Groupon is running seriously low on cash. The company is not broke, by any means. It can also presumably raise additional capital in the private markets if its IPO gets further delayed. But Groupon’s cash cushion relative to its liabilities is small — and the gap between the two is going the wrong way fast. (Business Insider)
Some online hyperlocal startups are establishing themselves on the Web first, and then, (gasp!) putting out a print edition. (Columbia Journalism Review)
As bands become more and more adventurous when it comes to integrating tech into their artform, mobile- and location-based technology is making an entree into the music world, enhancing the experience for both bands and fans alike. (Mashable)
“Deep down, Groupon knows what we all know: good investments are profitable investments,” writes Rob Wheeler from the Harvard Business Review. “It was simply not enough for the firm to report earnings and explain that it was investing for growth. Rather, Groupon felt the need to include a metric of profitability, no matter how contrived, that was actually positive.” (Business Insider)
Katz Media Group’s digital sales division announced the launch of Katz 360 Local Media, a new online display advertising vehicle that offers advertisers premium placements on radio, television and newspaper publisher sites. (NetNewsCheck)
Steve Rowe, chief revenue officer at Zagat, is leaving to become the CRO of MyCityWay. MyCityWay is a mobile app that helps users explore cities by using urban reference data. It was founded in November 2009 and has more than 3.5 million activations. (Business Insider)
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