What It Takes to Build a Successful Daily Deal Site: Dan Stuart [Entrepreneur of the Week]
Dan Stuart, co-founder of GoNabit (now LivingSocial), offers insights into the daily deal business, discussing GoNabit's values, how the culture at GoNabit was maintained after its acquisition by LivingSocial, what it takes to start a daily deals site, the challenges of cash-on-delivery, and what trends we'll see in the coming year.
The key factor in success for daily deal site is scaling, he says. "If you're not operating at scale, it's hard to be profitable. And it's hard to get to scale and try to be profitable. So if you're a new entrants, it can be really hard."
This interview is part of our Demystifying E-Commerce series, which will explore the challenges in e-commerce leading up to and beyond our CoE E-Commerce event on June 3rd.