At last week’s Street Fight Summit in New York, Yipit co-founder Vinicius Vacanti said that it was clear that Groupon’s valuation bubble has burst, but the daily deals industry and the big players in it are alive and well. Businesses are still offering deals. Users are still buying deals. And many deal services are thriving.
In his keynote to open day two of the Summit, Vacanti gave a high-level overview of where the deals industry is today, and where we can expect it to go in the coming months. He said that the model of pegging growth to user acquisition appears to be on its way out, and speculation that large media companies like Google, Amazon and Yelp are shutting down deals programs just isn’t true. Below is a video of his full keynote:
Videographer: Buboo Kakati