" In Groupon's case, where the business model was clearer at the time of the IPO, the business model has collapsed and it is difficult to see what the company can do to set itself apart from the competition and make money at the same time."
Totally respect the methodological & thoroughness of Prof's work on the valuation.. it just shows I still have much to learn! ;-)
If we bring our mind back however to definition of fundamental of business, which is the products/services and business model etc.. we could have foreseen that this could be a big waste of everyone's time & effort AND money..
as a nobody like me already said the business model was 'not broken' but "not sustainable" ever since it launched and first blogged about it back in 2010 and predicted them will not exist by 2015.. ( My response & prediction peHUB Depressing Thoughts About Groupon’s Model http://bit.ly/T8jyMf ), seems like I was wrong, their end might arrive sooner than that.. ;(
there is a fundamental structural & supply problems of the capital market, which is the smoke screen & quality and timeliness of the business critical information.. we need a solution..