That’s what business modeling is: you can have the same product or service wrapped in so many ways, there’s almost always another way to differentiate. And that’s what business is: you never know what the result will be until you try it out.
Take Mygon, a new player in the daily deal business, launched last April. Mygon is addressing the portuguese market with a campaign pumped with €600K seed financing, focused on reaching 200,000 users that can take advantage of more than 1,000 merchants’ offers. As in most of the daily deals platforms, what you get is a recommendation to use a discount near your location.
As I use to say, the trouble is in the details. First, with Mygon you get a discount valid for today. That’s a Last Minute approach that can really take advantage of merchants’ surplus or low demand periods. Then you don’t need to pay for the offer, unless when you take it at the merchant’s location. On top, this merchant was probably enrolled by another user, who takes a two years commission from the Mygon affiliates program. And a few more details that make this a pretty interesting business model.
And if you think you’ve seen it all, let me tell you that I’ve seen some merchants switch from Groupon to Mygon. They say it’s a better and more sustainable experience. They should know. Today there are more opportunities for Porto on Mygon than on Groupon, if this says anything. The startup still has a lot to do, from the lengthy registration process to the hesitating opportunities list. But there are plenty of players on the field. It’s just that only some get to be a Cristiano Ronaldo.