Group buying site Jump On It closes down in merge with LivingSocial
Australian group buying site Jump On It has been merged into its US-based parent company LivingSocial two years after its launch in May 2010.
The announcement today claims that JumpOnIt subscribers and customers will not experience any disruption and will be merged into the LivingSocial platform seamlessly as the JumpOnIt website closes.
CEO Colin Fabig had claimed in January 2011 that Jump On It was the number one group buying site in Australia, beating rivals Spreets and Cudo. According to a spokesperson for LivingSocial, Fabig changed role in the organisation, becoming chairman in February 2012, and the move is part of a “transition”.
More to follow
think the bubble might have burst
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Jump On It and LivingSocial are the same office, no ones actually closed down.
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So where will I get my foof waxed now?
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@ bob… Look, I admit, I work in the group buying space, so excuse my anonymity. Yes, lots of people jumped on the bandwagon. Yes, it’s two-odd years now. And yes, there’ll be some consolidation. But you’ve got the likes of Packer, Nine, Microsoft prepared to pump millions into the category, so I think the future is a rosy one (admittedly with a few large players). Take a look at what’s happening in the US now. Group buying’s almost surpassed. NOW, seven pairs of jeans, in your size, turn up on your doorstep (unannounced). Don’t like them? The courier simply picks them up in the morning (no questions asked). Ignore it at your peril – but the entire face of marketing, advertising, retail, etc is changing before your very eyes.
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After all the angry customers, angry vendors, dodgy conditions, unreasonable redemption periods, closed down or moved businesses, the group buy scene is starting to consolidate. No surprises really.
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“Group buying’s almost surpassed. NOW, seven pairs of jeans, in your size, turn up on your doorstep (unannounced). Don’t like them? The courier simply picks them up in the morning (no questions asked).” This from the country they gave home loans to people on welfare, must be a winner… Fanny Mac anyone? Pop! Sorry Kev but I’m with Bob…
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@kev when every cafe, restaurant, massage parlour and dental whitening kit supplier no longer wants to give it a go where do you go from there. No matter how much the corps pump in, if the end users aint interested how can it keep going? Admittedly it seems to be more retail focused these days, but that playing field is going to be developing at a rapid rate and shonky products wont cut it. My Chinese iphone 4s accessories lasted about a week. I saw a holiday deal today for $999 to Thailand for 12 nights, 31,000 buyers – how does that work!! unsubscribe….
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@ Bob. I’d unsubscribe if I were you. Oh, you just did.
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