Social media juggernaut Facebook last week officially confirmed its decision to kiss the final goodbye to its daily deals business. The untimely departure of the venture merely 4 months after it started has ever since raised an industry wide speculation regarding the future of the daily discount business.
It was quite normal and nothing out-of-the-box when many analysts predicted that Facebook’s decision to call it a day will make things much easier for the other key players in the industry such as Groupon as they will have one less competitor to battle it out against in the market.
However, it might not be that simple and easy as well. There are also those who think Facebook’s departure could eventually lead the industry to face some rather tough questions such as the viability of its business methodologies and opportunities themselves.
"I don't believe this means daily deals are not a viable business," Vinicius Vacanti, co-founder of Yipit.com, said in a statement, Reuters reports.
He added, “It more suggests that large media and tech companies can't just 'turn on' daily deals and expect them to work. It has to be more thoughtfully integrated into their existing product.”