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We live and work in exciting times - revolutionary times. Technology continues to recast the media industry.

The extraordinary advance of affordable personal digital technology and the stellar rise of social networks are both distrupting and transforming the media market making this a unique moment to be involved in the convergence sectors we focus on.

This is also our place to ruminate and comment on the world as we see it, we hope you enjoy and please join in.

Wednesday, 29 December 2010

Groupon file for massive fundraise

Having turned down a huge bid from Google it seems that Groupon are now firing up with a massive fund raise.

"Groupon filed a request with Delaware authorities to raise as much as $950 million by offering preferred shares, The Wall Street Journal reported."

We all thought Groupon were nuts to turn down Google and that they should have taken the money.

Having so publicly declared and demonstrated their independence they now need big funds to defend their territories and to grow. It's not going to be easy. Competition is growing from a raft of players that include newspapers who scent an opportunity for themselves in the Groupong model. And then they is Google who having been rebuffed are unlikely to sit idly by and let Groupon succeed. And lastly there is the growing negative buzz that surrounds Groupon. Merchants and customers who have had a poor and unprofitable experience are increasing vocal.

Sure all makes for an interesting story in 2011.

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