Street Fight Daily: ‘Daily Deals’ Profit, Yelp Surges
A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Report: Most Daily Deals Now Profitable for SMBs — But Not Restaurants (Screenwerk)
A new report from Rice University offers a number of very interesting findings and generally positive news for the daily deal industry. Whereas less than half of the businesses that have run their first daily deal report profitable promotions, more than three quarters of them do by the time they have run seven or more deals.
Yelp Rises on Speculation of Smaller iPad (Bloomberg)
Yelp increased the most in almost three weeks on speculation that a smaller model of Apple’s iPad could help the business-review service add users. The stock rose 5.8 percent to $26.16 at the close in New York, for the biggest daily advance since June 15.
Community-Powered Traffic Navigation App Waze Hits 20 Million Users, Doubles Up in 6 Months (The Next Web)
Hot on the heels of the news that Waze is one of Apple’s sources for iO6 Maps, the community powered GPS navigation app has announced twenty million users. Waze is a community-driven application that learns from users’ driving times to provide routing and real-time traffic updates.
The Future of Media and Forcing New Content into Old Models (GigaOm)
Matthew Ingram: “While some critics choose to see outsourced journalism of the kind Journatic produces as unethical ‘pink slime,’ the controversy over the startup’s practices actually says a lot about how difficult it is to find new ways of producing that kind of content — in part because the traditional media industry and its supporters want to force everything into old models and familiar formats.”
How The Weather Channel is Using Foursquare’s Apps Platform (Lost Remote)
The location-focused network is one of the first companies to leverage Foursquare’s new Connected Apps platform, launched at the end of June. Once users check-in on Foursquare they will see a local whether report served up by The Weather Channel.
Loyalty Debate: ‘Collective Currency’ or Solo Destination? (Local Onliner)
Two schools of thought have broken out about loyalty programs. The first is to build a collective currency for points or other loyalty incentives that can be used anywhere in the network.The second is to work specifically with merchants on a one-on-one basis, building their customers’ points based solely on the business they do with the establishment.