The headline ‘The fastest growing company in history‘ is reason enough why this book is a good read. Groupon was the quickest to reach 1 billion dollars in sales and the second-fastest to be valued at 1 billion dollars. Quite impressive for a start-up.
The author starts off with Groupon’s alleged talks with internet giants Yahoo and Google for buy-outs valued at respectively almost 3 billion and 6 billion dollars. The latter would have made internet history as the all-time most exuberant buy-out; only to be turned down.
You will visit the milestones that made Groupon what it is today, with an astounding cast of Silicon Valley entrepreneurship and investors superstars. You will go through the bumpy ride through a heartfelt narrative, that often lead me to Google the people in question, just to get a better picture of what they looked like.
I personally loved the book, and here’s why you will love it too:
- The CEO goes from a simple employee with an idea, to getting 1 million dollars in financing… from his own boss. A thrilling story of a man shifting from the bottom to the upper ladder.
- The idea that ‘there’s no such thing as bad publicity’ gets proven correct by an advertising campaign gone wrong, resulting in massive new subscribers.
- The concept that even accounting can be part of marketing is also proven correct; as Groupon explores an unorthodox method of accounting that beautifies its numbers: eliminating online marketing from the expenses equation, and considering money simply ‘passing through’ to the merchants as sales. (Yes, it does eventually get them in trouble though.)
- The fact that a firm, continuously generating losses, can be valued at 16.7 billion dollars!