Nieman Marcus | Street Fight

Street Fight Daily: 10.04.11

David Hirschman

Street Fight Daily: 10.04.11

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

In the top 30 US markets, no company that reports purchase counts outperformed Groupon in August. In fact, in only 5 markets is the second largest competitor even generating 50% of the gross revenue Groupon generates. (Yipit Blog)…

It was only about six months ago that investor excitement for a Groupon IPO was so high that its expected valuation was $25 billion. Now, institutional investors are wary. A fund manager suggests that Groupon might have to reduce its IPO valuation to between $3 billion and $5 billion in order to get it out the door. (TechCrunch)…