Groupon Thailand shuts down, company cuts jobs globally

[webfact]

Groupon Thailand shuts down, company cuts jobs globally
By Coconuts Bangkok



BANGKOK: -- Groupon Inc, the daily deals website, has shut down its operation in Thailand while the company prepares to cut about 1,100 jobs globally as it restructures outside of North America.

Groupon Thailand announced this morning that the site shut down yesterday because the company doesn’t see any potential for profits in the near future.

“We have thoroughly examined the global footprint and the relation between the market potential and fund needed for investment. As we do not see the target that will lead us to profits in the near future, we have made a decision to end our operation [in Thailand,]” the statement said.

Vouchers for “local & getaway” deals, which are mainly hotels and tour packages, are still valid until the expiration date on the coupon, but customers are free to contact the company for a refund before Dec. 31.
For inquiries about refunds or products awaiting shipping, customers can contact Groupon by email before Oct. 31.

Full story: http://bangkok.coconuts.co/2015/09/23/groupon-thailand-shuts-down-company-cuts-jobs-globally


-- Coconuts Bangkok 2015-09-23

[Mango Bob]

I used Groupon while back home in the USA for some resorts. Got really good deals, but didn't see much here I would have used them for.

[NeilSA1]

Back in South Africa, I found their service shocking and the products on offer were over priced.

[maidee]

got to figure to explain competition in this country

the idea was dead in the water from start...

hey, i will start a groupon for jetski renting in pattaya/phuket, anyone ?

[ehs818]

Groupon stock has been going south all year. Big time loser. I lost interest and faith in them about 2-3 years ago when I saw their CEO in an interview. No direct eye contact, avoiding questions, etc. Seemed pretty sketchy to me then!

[springheeled jack]

it doesn't surprise me in the least it has always been a wonder to me how can you make a profit in Thailand working on a 51-49 percent basis you are on a loser to begin with .

[Ulic]

I did not know they were still in business.

[b4n9]

Groupon business model sucks! dead by design. Lately they were focusing a lot in small business of all kinds as a mean of help the business advertise.. but it is near impossible to profit with it, sometimes owners loose money in exchange for advertise (in my opinion, better if you advertise with local social media and pay for it). Groupon are a group of losers.