Less than 10 months in the market, GeoQpons today announced that it now has over 1 million active subscribers.
Nope, I had no idea either who they were either…. until this press release. GeoQpons is apparently a mobile shopping coupon service that allows users to save money in local stores and has an average of 100K discounts from local businesses nationwide.
From the press release
“Our focus is helping shoppers save money and helping businesses take advantage of the mobile marketing wave. Clearly, it is quite an achievement to have over one million active shoppers saving money with GeoQpons in less than a year. As we exit ‘back to school’ season and head into the holiday shopping season, we know that more shoppers will be pulling out their smartphones to find the best deals. With more than 350 big name brands and more than 60,000 local businesses, GeoQpons should be a shopper’s first choice.”
What we think?
I always get worried when a small new company brags a bit too much. The 1 million is a boast and the rest of the press release where it slates the competition and says how much better it is – also makes me a bit worried.
But then, being bullish is not such a bad thing and boasting did AdMob some great favours so it is a tried and tested business model. I do like the fact that they push adverts based on proximity to a shop – but I do think 10 miles is too large a distance. 2 miles would be more precise. I know I wouldn’t drive 10 miles to save a few dollars.
But it does have very cheap offers for local companies. This is great as it will drive their traffic and get a lot of new and local business on board. It is a simple ad based business model and one that all small firms can understand.