You already know how the group buying thing has worked out for Groupon (ridiculously well), but restaurants, spas and yoga studios aren’t the only ones who find a little bit of peer pressure beneficial in driving sales.
IMVU, the creators of a virtual world where users can buy clothes and accessories for avatars, recently tested a group buying promotion for in-game currency that brought in $112,000 in 3 days.
Groupon may be the clear leader in the group buying space, but Living Social is determined to be a solid number two. Amazon invested $175 million in the company in December, and it’s taken all of a month for the two to pair up on what could be a record breaking group buying offer.
In what will turn out to be either a brilliant move or one helluva missed opportunity, Groupon turned down Google’s rumored $6 billion acquisition offer.
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