Yesterday, the online-daily-coupon-emailing-company known lovingly as Living Social made 1,301,296 people very happy. Offering 50% off of a $20 Amazon gift card (making it $10 to do the math), subscribers jumped at the chance to cash in (I did). Why would Amazon do this? Probably because it just invested $175 million in the company.
So, let’s do some quick math:
1,301,296 people x $10 savings = $13,012,960 (You can check my math and I won’t be insulted. I’m not good with numbers.)
That’s a lot of money Amazon gave away yesterday. Of course, that’s assuming everyone actually cashes in on the gift cards. And it probably won’t be spent all at the same time. And the entire gift card may not be spent when it is spent. And there’s just a lot of ands.
Overall, I say “Nice job Amazon [pat on the back], I like where your heads at.” But that’s just me. Maybe Groupon should be reconsidering that Google offer…just saying. Also, other businesses out there, people like this kind of stuff…just saying.