SOURCE: CoupFlip

CoupFlip

July 30, 2012 09:00 ET

CoupFlip Expands Daily Deals Marketplace to Customers in Chicago and Washington, DC

Site Offers Deep Discounts and Last-Minute Savings to the Nation's Biggest Daily Deals Communities

CHICAGO, IL and WASHINGTON, DC--(Marketwire - Jul 30, 2012) - CoupFlip, the only site that actively buys daily deals and sells them on the secondary market, today launched in two new cities: Chicago and Washington, DC. Both cities offer CoupFlip unprecedented access to communities that are active in the daily deals marketplace, as they are home to the biggest players in the industry: Groupon and Living Social.

CoupFlip Chicago and CoupFlip Washington, DC will serve the greater metro areas in both communities and also provide access to deals available nationally. These sites follow closely on the company's initial success with CoupFlip Boston.

Finding Deals on Deals

The daily deals market has reached a saturation point, with consumers' inboxes filling with new deals and people often buying deals that they later realize won't be used. In fact, the savviest consumers want deals on deals, true bargains that go beyond what they can get through the main players.

CoupFlip solves this by purchasing deals that people either bought on an impulse and want to liquidate or don't have the time to use. The company then sells these deals on an open marketplace in which people can buy and download the deals immediately.

CoupFlip works by paying sellers immediately for their deal based on the company's proprietary technology that values the deal based on such factors as expiration, original value, quantity sold and even the Yelp! score of the vendor. CoupFlip then markets those deals on its site, providing buyers with an easy way to identify what they want, make the purchase and use the deal immediately.

"Craigslist is littered with people trying to sell their deals, but buyers have no way to get those immediately. Also, they have a trust issue, how do you know those deals are authentic? What, exactly, are you buying? What is a fair price?" said CoupFlip Founder and CEO Phil McDonnell. "We buy the deals outright from sellers, then help buyers to find what they're looking for. Whether that means searching by location, type or even expiration. We have discounts on everything from vacations to dinners to kids' activities."

As much as 30 percent of the $5 billion in annual deals sold go unused. A CoupFlip survey found that an additional 30 percent of deal buyers would have sold their deals given the opportunity to do so. This represents a large need in the industry that has yet to be filled.

The site is perfect for:

  • Foodies looking for last-minute deals on restaurants they want to try;
  • Vacationers who want a great getaway at low prices;
  • Parents in need of weekend fun but without a big expense; and
  • Anyone who wants a spa deal, entertainment or even deals on clothing.

CoupFlip Chicago and CoupFlip DC are available immediately for buyers and sellers. You can find them online at http://www.coupflip.com/chicago and http://www.coupflip.com/Washington-DC.

About CoupFlip
CoupFlip is the only site that actively buys daily deals and then sells them on its fast-growing secondary market. Founded by several recent graduates of Dartmouth's Tuck School of Business, CoupFlip is backed by billionaire Ulrich Otto's BV Group. Find CoupFlip online at http://www.coupflip.com.

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