Jeremy Goldkorn:
But, based on my personal experience since 1997, every foreign-funded company I have ever encountered in China talking about making money from local vendors based on a “lifestyle” proposition has about a year or so before bankrupting itself or being run out of town.And on the support from research firm iResearch:
I don’t know if Groupon is paying iResearch, but iResearch has a reputation in China for doing “research” for companies who pay them. Somehow, the companies always end up looking very good in their research reports.More in TechCrunch
It’s all pre-IPO spin. Groupon China is simply a way to bleed cash.
Jeremy Goldkorn is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.
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- Silicon Alley Insider: "Groupon Still Getting It In The Ass In China," says TechCrunch. Well, that's one way of putting it. (businessinsider.com)
- Roundup of my Groupon and daily deals coverage (agrawals.org)
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