Yipit Cuts Through the Noise Of Daily Deals with Kayak-Like Filtering
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and finally hit upon something that really took off.”
Yipit now has more than 175,000 users, adding about 800 to 1,000 every day, all by organic, word-of-mouth growth, Vacanti says.
The company’s software automatically crawls the Web for these daily deals, but it also has a team that manually sifts through them to track duplicates and show the consumer the best deal if multiple sites are offering a coupon for the same business on the same day. Last month it also released an application-programming interface (API), enabling third parties like local content sites to plug the daily deals aggregated by Yipit onto their own webpages, Vacanti says.
Yipit brings in money with an affiliate marketing model, taking a chunk of sales it has prompted for the daily deals sites. And its filtering service automatically generates a massive database of information on the daily deals and group buying landscape, so Yipit has also recently been packaging and selling that data to companies in the space and other third parties, on a monthly subscription basis. The data gives a window into which coupons daily deals companies have recently offered so competitors can avoid them, or which coupons did particularly well, so others can try to mimic their success, Vacanti says. It can give a leg up to smaller, newer daily deals sites, which, unlike big dogs like Groupon and LivingSocial, don’t have internal staff dedicated to studying to competition or playing field.
Yipit is also working on tackling another challenge to daily deals consumers: geographical vicinity. Sure, all these sites allow users to filter deals by the city they live in. But that “city” is often defined by anything within a 100-mile radius, making many of the deals not relevant or just plain inconvenient to customers. Yipit will soon allow users to narrow down the location or proximity of deals offered to them around key addresses that matter to them (like work, home, or a significant other’s house), says Vacanti.
“Obviously part of buying these deals is people want it to be convenient, not just a great price,” he says.
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