Street Fight Daily: 06.03.11

A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.

In its long awaited S-1, it’s clear that Groupon has impressive topline growth. However, when looking at it’s oldest markets, it appears that their business model is deteriorating. (Yipit Blog)

Several more perspectives on the Groupon IPO: a Twitter debate over the company’s doomed-ness, a look at who owns what stake in the company, a warning to investors by Andrew Mason, and some red flags for potential investors. (GigaOm, TechCrunch, PaidContent, Business Insider)

AOL’s Patch.com, which is now in 813 markets, is meeting internals goals and poised for success, according to President Warren Webster. By the end of the year, Patch is expected to hit the 1,000 site milestone, and Webster says the network is focused on its “Patch 360” initiative, hitting users however they want to be hit. (BIA/Kelsey)

Amazon has jumped into the daily deals space, launching a coupon site called AmazonLocal. The site, currently sells daily deal coupons via LivingSocial for 50% or more savings at local businesses in Boise, Idaho — but will soon expand to other cities and offer direct deals as well. (Mashable)

On Wednesday, foursquare made a clarification to one of the rules for their API that aims to make sure users are honestly reporting their locations. The move that will make it easier to shut down services that enable “jumpers” to report false locations. (About Foursquare)

Daily deal sites are increasingly big business. They are expected to generate $2.7 billion in revenue this year, and BIA/Kelsey estimates the market could reach $4 billion by 2015. Here’s a list of daily deal sites to watch. (Paid Content)

Real-estate site Trulia launched a new product yesterday called Crime Maps that lets people view and compare the frequency, types, and history of crimes neighborhood-by-neighborhood across various cities in the U.S. (ReadWriteWeb)

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