http://news.yahoo.com/groupon-criticized-literally-peddling-snake-oil-180143930.html
Groupon, like Facebook is another social network thingamaging that I just do not get. I have never been a coupon person, (I have been know to get coupon discounts without a coupon..."I am certain if we talk to the manager....")
Groupon went public at on Nov 11 @ $26.11 and currently is trading @ $20.08.
It has had a high of $31 and a low of $14.85 and its market cap is $12+ Billion.
This article states..."A complaint reviewed by the London-based Advertising Standards Authority scolded the Chicago-based deals site's U.K. affiliate, MyCity Deal, for falsely promoting the effects of "Wrinkle Killer Snake Serum" that the ad copy said offered "temporary freeze-like effects on the face muscles" and "leaves the skin looking younger." After what sounds like a pretty scientific study of the snake oil's effects, the ASA deemed the ad "misleading" and subsequently forbade Groupon from running it again."
The comparison between snake oil sales and Groupon's IPO is simply too easy to pass up. I will be looking out for the Youtube video of the look on people's faces when they discover that either purchase does not live up to the claim.
