eBay-owned company plans to take on Groupon and LivingSocial
eBay-owned PayPal is planning to foray into daily deal coupons in a bid to take on Groupon and LivingSocial.
PayPal president Scott Thompson said the company would make its entry into cellular deals in the first quarter of next year, partnering with some of the top 200 US merchants. Thompson said PayPal could leverage its knowledge about customers' preferences and do better than LivingSocial and Groupon. It is said to be planning to target its 103 million members.
Four of the biggest players in daily deal coupons, including Groupon and LivingSocial, had reportedly sold close to $210m worth of coupons in October in the US.
According to Bloomberg, deals aggregator Yipit said that Groupon and LivingSocial controlled 73% of the market in October.
Britain might be PayPal's next destination as it is its second biggest market after the US, the BBC quotes the company's spokesperson Rob Skinner as saying.