Curious about why Goldman Sachs CEO Lloyd Blankfein is flying to Chicago to woo Groupon and win its IPO? This chart should help.
Needham & Company analysts Mark May and Kevin Allen projected the revenues for the local daily deal market for the next five years. As you can see, they’re very bullish.
Even these bullish projections are probably coming up short. We’ve heard late last year Groupon was on a $2 billion annual revenue run rate, and Needham thinks it’s only 60-65% of the market.
(What’s funny about this chart is that it looks exactly like a joke chart Andrew Mason drew on a napkin when Groupon, then called “The Point”, picked up a round of funding.)
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