BusinessInsider: Venture Capital Firms Back Daily Deals With $1.6 Billion In 2011

Over the past six months, daily deal sites including Groupon, Living Social and Gilt Groupe have attracted more than $1.69 billion in venture capital and other investments according to the new 2011 Daily Deal Investment Index released by Daily Deal Media. Overall, 22 Daily Deal companies have received investments in the past six months.

There are now more than 350 daily deal sites in the U.S. alone – five times the number over a year ago. The $858 million consumer spending in group buying in 2010 has been driven by hyper-local deals offered by merchants seeking visibility and new marketing channels. This is expected to grow to $1.9 billion in 2011 and to a further $4.5 billion by 2015, representing a significant 39.3% CAGR over 2010-2015.

Read more at BusinessInsider

Leave a reply:

Your email address will not be published.

Pin It on Pinterest