Street Fight Daily: SEC Probes Groupon, Manta Raises $44M
A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
SEC Probes Groupon (Wall Street Journal)
The Securities and Exchange Commission is examining Groupon Inc.’s revision of its first set of financial results as a public company, according to a person familiar with the situation. The regulator’s probe into the popular online-coupon company is at a preliminary stage and the SEC hasn’t yet decided whether to launch a formal investigation into the matter, the person said.
Borrell: Local Online Advertising to Grow 21% (NetNewsCheck)
Local online advertising is expected to grow 21.3% in 2012, to reach around $20 billion, according to a new Borrell Associates report to be released today. That’s on top of 20.6% growth in 2011. Borrell also predicted that local online could surpass newspapers as soon as next year.
Online Community For Small Businesses Manta Raises $44M (TechCrunch)
Manta, an online community dedicated entirely to small business, has raised $44 million in funding from Norwest Venture Partners. This brings the company’s total funding to $61 million. Manta is an online community meets social network for small business owners. The network aims to help these businesses easily gain an online presence, increased visibility with customers and prospects and ultimately increase sales.
Find Local Bars, Bathrooms and More on This City App (Mashable)
MyCityWay Now aims to be your one-stop urban guide for directions to restaurants, Wi-Fi hotspot locations, and everything in between. The app is like a personalized concierge service for the locals and tourists. The real-time mobile app sends local news, commuter updates and information about the best sales and restaurant deals your way.
10 Takeaways from ILM East 2012 (BIA/Kelsey)
Peter Krasilovsky: Among the many learnings that could serve as takeaways: “The new currencies are time, attention and clickstreams. Payments can be in pixels, Facebook mentions or points and rewards” — Ted Leonsis, Vice Chair, Groupon; “Local is all about scale. And the only way to achieve scale in local is by aggregation” — Jay Herratti, outgoing CEO, CityGridMedia.