Daily Deals Space Thins Out

Having taken $39 million in funding, Group Commerce, chaired by former Doubleclick-er David Rosenblatt, has had to lay off “28% of its 109-person staff ” as the shifting sands of daily deals claims a victim. CEO Jonty Kelt tells Business Insider about the root of the problem, “…the local-offers business, which launched two years ago, was too much work for too little reward. Sourcing local deals is as much work as sourcing national deals, but yields far fewer sales because the offerings are relevent to a much smaller audience.” Read more.