SOURCE: CoupFlip

September 04, 2012 09:00 ET

CoupFlip Expands Daily Deals Marketplace to New York and San Francisco

Site Brings Its Deep Discounts and Last-Minute Savings to Two of the Nation's Biggest Daily Deals Communities

NEW YORK, NY and SAN FRANCISCO, CA--(Marketwire - Sep 4, 2012) - CoupFlip, the only site that actively buys daily deals and sells them on the secondary market, continued its national expansion today by launching sites dedicated to two of the nation's biggest daily deals markets: New York and San Francisco.

CoupFlip New York and CoupFlip San Francisco join the company's growing roster of cities that already include Chicago, Washington, DC and Boston. The company's expansion will continue in the coming months until people in nearly all of the major metropolitan areas in the US can quickly and securely buy and sell daily deals.

"Customer satisfaction is a huge issue in the daily deals industry right now. Many people who buy daily deals find themselves stuck with something they can't use," said CoupFlip co-founder Phil McDonnell. "Maybe it's that time is running out, maybe it's just that the activity looked great for a moment, but eventually lost its luster. But they invested money and they want to recoup that money. If they can't do that, then they're less likely to buy again. CoupFlip gives people the opportunity to sell those deals through a trusted third party."

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.

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 New York and CoupFlip San Francisco are available immediately for buyers and sellers. You can find them online at http://www.coupflip.com/New-York and http://www.coupflip.com/San-Francisco.

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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