Making Money System

The Florida Gators (7-5 overall and 4-4 in SEC play) actually were awarded a bowl bid with a hefty financial payout ($3,100,000) based on past performance.

No other explanation of why Florida is in the Outback Bowl really makes any sense.

Florida will be playing in Tampa against Penn State while South Carolina will face Florida State in the Chick-fil-A Bowl (awarded to the SEC’s No. 5 finisher) and Mississippi State  (who beat Florida straight up and finished a game ahead overall) will play Michigan in the Gator Bowl (meant for the SEC’s No. 6 team).

Who cares that Florida was “less than Florida” this year.  We all know they’ll rebound, and it just seems more like a big game with them than without them.

 

Pitt in the BBVA Compass Bowl

Who Should be Playing:   Kentucky vs. Syracuse (SEC No. 8 vs. Big East No. 5)

Syracuse finished 2010 with at a better than expected 7-5 mark overall and went 4-3 in Big East play.  Regardless of how good this was it still puts the Orange a step below Pitt who finished (disappointingly) 7-5 overall and 5-2 in conference.

Regardless, Pitt has been shuffled southwards to the BBVA Compass Bowl (meant for the No. 5 Big East team) while the Orange will participate in the first-ever Pinstripe Bowl (hey, that’s played in New York isn’t it?) that is supposed to be awarded to the Big East’s No. 4 finisher.

By Dian L. Chu, EconForecast



China has been ranked as the top growing country among the G20 since 2001 and is expected to retain that title for at least another five years (See Growth Chart). However, the news coming out of China for the past three months has not been good. It is looking more and more that it is not a question of if China is a bubble and going to burst, but when.



The country has major infrastructure issues, troubling population dynamics, poorly aligned employment outcomes, inflation problems, a real estate bubble, an opaque and potentially insolvent banking system (had mark-to-market accounting been applied), geo-political problems with North Korea and Taiwan, and an underperforming stock market in 2010 (see stock comparison chart).



Smart Money Rushing Out



While the hot money is flooding into China, the smart local money is doing everything they can to get their money outside of China, which partly explains why Shanghai SE Composite has underperformed other markets for the past year or so (see Comparison Chart).



The many issues of China could conspire to become the biggest train wreck waiting to happen, and potentially dwarf any little budget problems in Europe by a factor of ten.



Big Trouble In Big China



China has a population related societal structural problem. The nation has tried to utilize the vast manpower to its advantage over the last two decades building a powerhouse manufacturing economy through the availability of low cost workers, which supplied the world with lower cost goods.



Nevertheless, the harsh reality is that the nation's infrastructure, quality jobs, food, and overall resources are too scarce to support such mass population, while achieving the government`s goal of a smooth transition to a developed middle class to sustain an internal demand model going forward.



If you think you have riots in Greece over the pension retirement age being raised is bad, just wait till riots breaking out in Beijing and other cities over the fact that a 90 cent bowl of noodle soup now costs four dollars due to food shortages, and a runaway inflation problem.



Loose Lending = Non-performing Projects



This is only reinforced by some of the news events taking place over the last three months. Let`s start with the raising of banks reserve requirements by the central bank, which is the sixth such increase in 2010.



These measures are meant to curb the excess lending which has fueled much of the overbuilding and real estate speculation occurred over the past two years as China`s central bank initially wanted to avert a recession by artificially creating demand for workers and construction projects to replace lagging demand from the developed economies.



The problem is that too much lending has occurred, and bad lending at that. Because of the cheap available credit, now you have cement companies and manufacturing firms getting bank loans to invest in endeavors such as real estate, which is outside of their core expertise and competency.



Real Estate Misery Loves Company – China & Spain



The result is a bunch of excess inventory and poorly thought-out construction projects which have no means of recouping the initial investment needed to repay the bank loans.



This practice is similar to Spain`s situation now where they have entire uninhabited building complexes that have yet to be marked to market, and will probably ultimately be demolished. But at least in Spain, even though it was a construction boom, it was engineered by developers in Spain, and not by some manufacturing outfits like those in China.



So, multiply the bad business project factor by ten and you get an understanding of the magnitude of bad loans on the books of Chinese banks. The problem is being further exacerbated by the practice similar to Spain`s of banks making additional loans to the businesses just so that they can then turnaround and pay back the interest owed on the original loans.



The only way this would work out is if these projects magically develop revenue streams. Unfortunately, in the case of Spain, a 20% unemployment rate, coupled with a still overvalued housing market in which prices still need to come down significantly, would suggest that by the time the Spanish economy recovers enough to support the excess inventory, the abandoned projects are run down and uninhabitable.



A similar scenario could play out in China as well.



True Smart Money Wary of the Write-off Domino 



Furthermore, China`s practice of overbuilding at the height of real estate valuations makes even haircuts on loan write-offs an untenable practice for banks, and by further throwing good money after bad, the ultimate mark- to-market effect could be catastrophic for Chinese Banks.



This is the main reason all the major Chinese banks have gone to the market in 2010 to raise more capital before investors wise up to the underlying deficits these banks face, as these bad loans eventually would need to be written off the books.





Victor Shih, a Northwestern University professor estimates that Chinese local governments borrowed some 11.4 trillion renminbi at the end of 2009, and that local government financing loans to be roughly one-third of China's 2009 GDP.  The most likely scenario over the next few years is that there would be increases of non-performing loans ratio from local governments. This would require a large scale of recapitalization of the Chinese banking system, which would eat up a large share of China's foreign exchange reserves and possibly slow down growth.





Although Beijing is quite capable of  a few bailouts and surviving a widespread banking crisis, it most definitely will not bode well for the financial markets.  So, insiders are removing capital from direct exposure to the inevitable re-pricing that will happen throughout Chinese markets from real estate to the stock market, and can be seen at this early stage by the underperformance of the Chinese stock market compared to other global markets. Remember, foreigners cannot invest directly in these markets, so these capital outflows are truly the smart money.



Logistic Gridlock Crimping the Middle Class



Next let`s look at the recent news regarding a severe cutback in automobile registrations in Beijing to 240,000 in 2011 from 700,000 registered in 2010 by the municipal government. Other large cities in China are bound to follow. This is most likely related to the reported 9-day traffic jam on the Beijing-Tibet expressway in August, and other extended traffic jams throughout China in 2010.



China is trying to build infrastructure projects after the fact; whereas with proper central planning these should have been established far ahead of the massive transition from a rural, agricultural based populous to that of a modern, large city based business and manufacturing concentration.



Simply put, it is impossible for all the Chinese citizens who want and can afford automobiles to be able to own and utilize this form of transport without a total breakdown in the transportation system. We are seeing the early stages of complete and counterproductive gridlock in the transportation system of China, and it is only going to get worse over the next decade.

No Jobs for College Grads



For all the talk about how China graduates more engineers each year, and other college educated young people who have strong backgrounds in the hard sciences than most developed nations combined, this is actually another sign of problems to come over the next decade in China.



China`s wealth and emergence into the second largest business economy hasn`t been built around the need for these types of mind and skill set. So literally you have a large mismatch between the types of available jobs in China, that are supported by the heavy manufacturing and construction intensive focus of the past twenty years, to that of the recently educated pool of graduates who have grown in sizable numbers over the past five years.



The Mind Is A Terrible Thing To Waste



This results in a large human asset class that China is currently wasting, as most of the newly educated workforce is working in jobs which require little or no advanced education at the university level. So you have highly educated university graduates in areas like engineering and accounting working low level service and sales jobs that pay less than many manufacturing jobs.



In short, there are too many highly educated Chinese citizens graduating each year for the number of jobs available needing their skill set because China`s economic model isn`t built around these type of jobs. This type of misaligned employment outcomes never ends well; it usually manifests itself in increased civil and social unrest.



8% Inflation in 2011



The next major challenge for China is a skyrocketing inflation, which at its root is the fact that there are too many people chasing too few resources. This fundamental flaw in population dynamics underpins many of the problems that China faces going forward.



Recent CPI data for November illustrates the inflation problem in China with a reading of 5.1% from a year ago comparison, this is up from a 4.4% reading for the previous month. Couple this with the latest 4% hike in fuel prices in China because of rising oil prices, you could expect future CPI and PPI reports to reflect even higher rates of inflation.



For now, most of the year over year spike has revolved around higher food prices as energy has mainly been flat for 2010 thanks mostly to government subsidies. Now that energy prices have entered the picture, China will start to experience even more inflation pressures in 2011. 



Furthermore, with the undervalued yuan pegged to the dollar, it is only getting worse for China in 2011 due to Fed's QE2 pressures on the dollar.  The real inflation rate for Chinese citizens for 2011 will probably approach 8% next year.



An Asian Contagion by China?



This escalating inflation concern is further compounded by Beijing's lack of decisive action to combat the problem by delaying a much needed currency appreciation, and hiking interest rates in a timely fashion. There is no getting around the fact that these two things need to occur as soon as possible.



By the time the Chinese government is forced to implement these tightening tools, the damage to the economy is most likely already done. The longer China delays the inevitable serious tightening measures, the harder the economic crash that will occur in the aftermath of these policy changes. And it is unlikely to end well. The resultant impact will probably take the rest of the Asian economies down with it – an Asian Contagion scenario.



History Repeats Itself



Eventually central planners and finance ministers around the world might start to understand that policies which lead to bubbles being formed in the first place are counterproductive in the long run. But until that lesson is learned, it seems like we are doomed to repeat the same mistakes over and over again.



Right now, there are more and more signs coming out of China that all is not well with its economy, and the likelihood of a more severe downturn in the future is a distinct possibility, unless its policy makers take decisive and prudent actions to minimize the damage of a hard landing.    





Dian L. Chu, | Mobile Reader, Website | | Facebook | Twitter



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Even in times of severe budgetary crisis, WMATA still has to advertise itself. And what better way to reverse the public's negative opinion about random bag searches, constant maintenance, annoying talking buses, broken escalators, confusing fare structures and so forth than with some state of the art "guerrilla" marketing! Kytja Weir reports that the agency is going to try and get your attention the same way your local emo band does.

The transit system brought on Williams Whittle, based in Alexandria, earlier this month to help market the agency using traditional advertising but also possibly "guerrilla marketing" and "street teams," said Metro spokesman Reggie Woodruff.

"Williams Whittle will assist us as we continue to explore ways to increase revenue and off-peak ridership and to more effectively promote Metro and the improvements that we are making," he wrote in an e-mail.

That could mean "unconventional marketing" that directly engages potential riders, he explained. He could not provide any examples of what such direct marketing might look like, though.

What, was Evan Hensleigh not available? WMATA will be using about two-thirds of its $1.8 million advertising budget on Williams Whittle's services. For the sake of public transportation, I sure hope that Williams Whittle has some better "unconventional" ideas than those Second Life animations which Metro rolls out every now and then -- based on the company's website, it looks like they've got a ton of experience creating slightly annoying, yet oft-imitated television ads.

Ho! Ho! Ho! And a Merry Christmas to you all!

It's that time of year again and I've been so busy making Xboxes and E-readers and blankets with arms in them that I sometimes forget there are others like me doing good works but who are in need of some help.

These other "Santas" operate on a shoestring and need money to do their kind deeds. Unfortunately they can't do what I do to cover the cost of my operations. (I rent out my North Pole facilities to Superman eleven months of the year for him to use as his Fortress of Solitude.)

So Mrs. Claus, the elves, the reindeer and I are asking if you could make a last minute donation to one of the six worthy organizations I've listed below. Or do it as a gift in someone else's name and make that their Christmas present (thus fewer chimneys for me to go down. I know, I know, stop with the burgers in a donut bun.) These Santas will then turn around and use your money to create gifts greater than anything I could ever make in my workshop.

Here they are:

** The Innocence Project. Hundreds, if not thousands, of Americans sit in prison tonight having been wrongly convicted of a crime. They are 100 percent innocent and the system has the DNA samples to prove it. The Innocence Project is an amazing group that provides free attorneys and researchers who devote their time to freeing these innocent men and women. It's no mistake that human rights groups place the United States on their list of countries who throw the innocent behind bars. No country on earth (including China, with four times the population of the United States) has more people in prison than America. Please give to the Innocence Project so that those who've committed no crime do not spend another night in jail -- and so I don't have to spend so much time on Christmas Eve going through security when I make deliveries to them.

** The Bradley Manning Defense Fund. If I witness a crime while making my rounds on Christmas Eve, and I report it, I'm considered a hero. (Sometimes there's reward money!) Private Bradley Manning of the United States Army allegedly came across video of his fellow soldiers gunning down and killing in cold blood two reporters from Reuters and a group of Iraqis who were civilians. He apparently decided to report this crime to the American people. For this, he has been arrested and thrown into the brig -- where he has sat in tortuous solitary confinement for seven months. He is also believed to be the source of thousands of documents obtained by WikiLeaks which show the disgusting and immoral behavior of your government and Pentagon as they've prosecuted two illegal wars in Iraq and Afghanistan. This is a true travesty taking place and it's being done in your name. Please contribute to his legal defense fund and please send him a holiday card at:

Bradley Manning

c/o Courage to Resist

484 Lake Park Ave #41

Oakland CA 94610

USA

(See BradleyManning.org for how to mail things to him directly.)

** WikiLeaks. What more needs to be said? Frankly, in retrospect I'm GLAD they leaked my 2009 Naughty & Nice list -- especially the parts about the U.S. government. I know that may hurt a bit for those of you who are Americans, but trust me, it's good for you in the long run. What I do foresee in the coming year, though, is a battle for who controls the internet -- and those in power are going to find ways to clamp down and not make it so easy for all of us to share with each other so freely. (Another good group to give to that is helping to keep the internet free is Save the Internet.) From the Iraq War video to the proof that you're backing a corrupt government in Afghanistan to the fabricated cables sent to the Bush State Department from Havana about Mike's movie, WikiLeaks has performed an invaluable service. As long as they don't dig into what my elves do in the 11 months they're on vacation, I'm solidly behind WikiLeaks.

** The Water Project. Over a billion people on this planet have no access to clean drinking water. Approximately 2 million children under age 5 are killed each year worldwide by a water-related disease. This is insane considering we have the technology and the people power to fix this in a very short time period -- if we wanted. The money from just one year of the Iraq War would pretty much take care of it. Sad, isn't it, how we're capable of so much more, of being so much better. The Water Project is a hands-on, boots on the ground organization that's digging wells and getting clean drinking water to the Third World. This is one delivery -- water for a billion people -- that just doesn't fit in my sleigh.

** Park 51 Islamic Community Center ("The Ground Zero Mosque"). Here's a tip: if there's anything that will get you a lump of coal in your stocking, it's hating people based on their race or religion. And I'm sorry to say, folks like that were out in full force this year. They even won themselves an election. Soon they will hold congressional hearings to out America's Kenyan-born Muslim president. (My team's already getting extra coal ready for Christmas 2011.)

Meanwhile in lower Manhattan, a group of people who happen to be Muslim want to build a community center. They asked the Jewish Community Center in Manhattan for help. They helped them. It was so nice it made me think I should branch out into Hanukkah and Ramadan. Then the haters showed up. But I believe Park 51 will win this fight. Please help them.

** Democracy Now. This great daily show presents the news we never get to hear on mainstream radio or TV -- especially at the North Pole, where for some reason the cable system only runs the Hallmark channel and Spike. Amy Goodman and Co. do an incredible job bringing the truth to the American public every morning. I listen to them and I support them. (And I support all efforts for non-profit, community-based radio stations. You can learn more about that movement at Radio for All.)

So give if you can. I know these are tight times for most people and you've got yourselves and your families to take care of. I hope this time of the year is going well for you and if not, then please know that there are many -- including me -- who care about you and yours. Working together, it will get better for everyone.

Finally... those of you who don't have chimneys, could you possibly leave the door open this year? I don't like it any more than you do when I have to break in through your bathroom window.

Happy Christmas to all, and to all a good-night,

Santa (c/o Michael Moore)

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Making Money Easy

CNBC released a brand new iPad app late Monday, delivering the first truly useful, real-time market updates dashboard for the device.

The free app is cleverly organized for quick access to the latest information on the markets, including real-time stock quotes and charts from the New York Stock Exchange (NYSE) and NASDAQ, as well as articles and videos from CNBC.com. Users can customize the dashboard to keep track of their individual portfolios and save articles (although not videos) for later offline viewing. A news ticker (which can be customized to track certain industries or personal portfolios) runs along the bottom of the app, making it easy to catch relevant breaking news as users navigate through the different sections.

Users can also watch highlights from CNBC’s more popular shows, including Mad Money and Fast Money.

It makes Fox Business’s [iTunes link] and Bloomberg’s [iTunes link] iPad apps, which have a 15-minute reporting delay on stock quotes, look primitive by comparison.

Only two things are lacking: streaming access to CNBC’s live TV content and better social integration. Admittedly, finance is not a popular topic of discussion on social networks currently; however, the growth of online social communities like Stocktwits may very well reverse this trend. We’d love to see sharing options for class='blippr-nobr'>Facebookclass="blippr-nobr">Facebook and class='blippr-nobr'>Twitterclass="blippr-nobr">Twitter, live commenting functionality on videos and articles, as well as live, stock-related tweets from Stocktwits’s API.

Check out CNBC’s app for yourself in the screenshot gallery below, as well as in the App Storeclass="blippr-nobr">App Store [iTunes link].

CNBC Real-Time for iPad

style="display:none" class="gallery_id">481 style="display:none" class="post_id">463361 style="display:none" class="gallery_type">photo class="ytm-view-type">View As One Page »

Just over a year ago, Rochester’s Democrat and Chronicle launched an ambitious Alternate Reality Game (ARG) called Picture the Impossible. The seven-week game was a collaboration with the Lab for Social Computing at the Rochester Institute of Technology, and it built web, print, and real-life challenges over a fictional storyline designed to connect players with with Rochester’s history. Participants were divided into three teams that competed against each other to earn money for three local charities. The players completed a scavenger hunt in a local cemetery, created recipes for a cooking contest focused on local ingredients, and earned points each week for both web-based games like jigsaw puzzles and print newspaper challenges like assembling a mystery photo. The game concluded with a Halloween costume party for the top players.

Over 2,500 people signed up for the game in all, and it attracted a highly engaged core of about 600 people, including members of the young professional demographic that the Democrat and Chronicle had been most hoping to attract. But running an ARG was also very resource-intensive. I talked with Traci Bauer, the Democrat and Chronicle’s managing editor for content and digital platforms, about what the paper learned from Picture the Impossible, and how they are building social gaming into the paper’s day-to-day operations.

Picture the Impossible emerged through a collaboration between Bauer and RIT professor Elizabeth Lane Lawley. It was funded through sweat equity from both organizations and a donation from a local charity and Microsoft Bing. (Kodak, which is based in Rochester, provided cameras and printers as weekly prizes.)

The game attracted players of all ages, including families, students brought in through RIT, and plenty of Baby Boomers. (“They’re easy,” Bauer said. “Boomers do everything.”) Two-thirds of the players were women. The most important strengths of the game were the collaborative team structure and the focus on earning money for charity. Team spirit was high on the message boards for the three different “factions,” and players strategized ways to maximize their weekly point totals. The scavenger hunts and real-life games (some powered by the text-messaging/smartphone app SCVNGR) were popular, as was the cooking competition, which brought in 104 entrants. When I spoke with Bauer and Lawley last year, they had also been very excited about the way the game used the print paper as a physical element of play.

Bauer said the newspaper had learned enough from the collaboration that the experiment would have been worthwhile even if the game flopped. It didn’t.

“The beauty of it wasn’t in the volume of players, but in the amount of time that they spent in the game,” Bauer said. “In the end we had 62 minutes on-site per unique, and that’s compared to 30-35 minutes on our core sites.”

Bauer came out of the project believing that the news industry needs to harness gaming strategies. “There’s something in there, for sure,” she said.

Her goal is for the Democrat and Chronicle to always have some kind of social gaming presence. When Picture the Impossible closed last Halloween, “I wanted to quickly get another initiative out there,” Bauer said. “I hate when you build something and it’s a success and you put it up on a shelf and don’t pay attention to it for years.”

The problem was that Picture the Impossible had taken a huge amount of time and resources. The newspaper’s collaboration with RIT had ended, and the pressures of making social gaming a normal part of newspaper operations meant figuring out a more pared-down, sustainable model.

For the Democrat and Chronicle, that has meant abandoning the Alternate Reality Game model, with its fictional storyline that united the different elements of the game and propelled it forward. As a news organization, Bauer said, creating fictional scenarios didn’t really fit with their mission. It also meant fewer real-life challenges, even though they were very popular with players. RIT had been “instrumental” in making those in-person activities work. “It’s not what we’re really good at, organizing baking contests and things like that,” Bauer said. “It wasn’t what we’re about.”

This time around, the Democrat and Chronicle’s new social gaming project, score!, is focused around one of the newspaper’s core activities: political coverage. Launched in June, score! focuses on the November elections, and consists mainly of politically-themed web games and quizzes. One new game, Headline Hopper, has players propel little politicians through a landscape of quotes, Mario Brothers-style.

As in Picture the Impossible, players accumulate points and earn money for charity, and the profiles of score! players note whether they participated in Picture the Impossible, to build continuity between the two games.

This time, Bauer said, they thought the team loyalty that had powered Picture the Impossible would be formed around political parties, the Democrats competing with the Republicans. But that team structure flopped when only four Republicans signed up. As a result, Bauer said, they’ve mostly abandoned the team focus. The in-person component of score! has also been scaled back; players can get “stalker” points for snapping photographs of politicians at local events, but Bauer said the challenge hasn’t really taken off. Part of the problem is that candidates are unpredictable, so it’s hard to get information about possible stalker events until the very last minute.

The election focus has been one of the strengths of score!, in part because it gives the game a natural theme that’s easy to build content around, and in part because the games build on the status that comes along with being well-informed about politics — and with having other people know that you are.

“In the forums they talk about how much they’ve learned about the election, and how they feel like smarter voters because of it,” Bauer said.

Players now need to log in to the game through Facebook, which has generated about a dozen complaints from people who can’t play — not enough to be a real concern. And the benefit of the Facebook platform is that it allows players to compare their scores with friends.

Like Picture the Impossible, Bauer said that the 2,300 score! players fall into three tiers: a smaller group of 250 hardcore players, a middle tier of casual players, and then the remainder — who scored a few points and then didn’t come back.

“That’s really our target, is the causal player,” Bauer said.

One of the biggest challenges of running games when you’re not a full-time gaming company is negotiating the relationship with the hardcore players versus the larger group of more casual ones. The most devoted players are also the ones who post the most complaints on forums and Facebook. “We have to keep reminding each other as a team this is an initiative that is going to be constant on our site, and we can’t wear ourselves out catering to five people,” Bauer said.

At the same time, those small number of hardcore players are responsible for a lot of the games’ energy. “That’s where the conundrum is,” Bauer said. “We owe all of our success to those kinds of people.”

When score! ends, Bauer will evaluate the game’s analytics to see which parts of it generated enough engagement to make the time invested in it worthwhile, and continue to think about how to automate parts of the game to make it more sustainable. The next game will debut sometime early in the winter, Bauer said, and it may involve competition between players in Rochester and other cities.

So far, the Democrat and Chronicle is the only Gannett paper to implement a major gaming initiative, Bauer said. She said this was disappointing, but not surprising, since the success of Picture the Impossible didn’t translate into a bump in revenue. (Unlike Picture the Impossible, score! has advertising on its site.) As much as she believes in making social gaming part of a newspaper’s toolbox, Bauer said, “it certainly doesn’t produce a lot of revenue, and until it does, it’s not going to get a lot of attention.”

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Making Money Advertising

This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.

Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.

In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.

To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.

Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).

Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.

Building a Strong Frame

Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.

For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”

It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.

Changing Course

Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.

“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”

Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.

It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.

“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.

Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.

Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry

Sponsored by Microsoft BizSpark

BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.

For more Startups coverage:

class="f-el">class="cov-twit">Follow Mashable Startupsclass="s-el">class="cov-rss">Subscribe to the Startups channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for Android, iPhone and iPad

After a week of on-and-off rumors about Google making an offer for Groupon, there are now multiple reports that the web giant is close to paying as much as $6 billion for the social-shopping service, which has been growing faster than just about any tech-related company in recent memory — including Google. If true, the deal would be almost twice the size of the search company’s largest acquisition ever (the $3.1-billion purchase of DoubleClick in 2007), and would be a gigantic bet on two trends that Google has so far failed to really take advantage of: namely, the movement of local advertising onto the web, and the rise of social behavior online.

Google’s $1.65-billion acquisition of YouTube in 2006 makes a good comparison for its apparent interest in Groupon: At the time, online video — and just as important, the sharing and embedding of that video — was clearly the future of the web, but Google was a tiny player in that market and wanted to get big quickly. So it paid what seemed like a massive amount of money at the time for the startup, and has spent the past few years trying to figure out how to monetize that content.

The nice part about Groupon is, while YouTube was located more towards the social end of the spectrum and less the monetization end, the group-buying service is a monetization machine — although one that is also socially oriented, since it takes advantage of consumers’ desire to trigger discounts by forming a group. Clearly one of the big attractions for any acquirer is the fact that Groupon is bringing in an estimated $50 million in revenue a month, and expects to close the year with more than half a billion dollars in sales. That’s after less than two years in existence.

Why has Groupon been able to grow so quickly? As I outline in my latest GigaOM Pro report (subscription required), the startup’s rapid success is a sign of how explosive the power of social media can be when applied to a revenue-generating idea like coupons. As co-founder and angel investor Eric Lefkofsky described in a recent interview about Groupon, the company (which was originally called The Point, and focused on connecting people around social issues and activism) didn’t really take off as a business until it married the viral nature of a group-buying offer with the desire by local retailers to reach out to potential customers. Email is the company’s primary method, but it’s also fueled by social networks like Twitter and Facebook.

More than anything, Groupon has been riding the social-advertising wave, which is something Google desperately wants to own. In many ways, it’s the next step beyond AdWords and AdSense: While those products involve advertising keywords that sit next to searches and capture surfers who are looking for information about specific topics, Groupon reaches out to people who may not even know they want the item yet. The company’s DoubleClick acquisition gave it control of banner advertising, but banners are the past; social advertising is the future. As Macquarie Research analyst Ben Schachter said in a research note this morning, the purchase “is about much more than Google generating revenue from emailed coupons — it’s about Google’s ability to potentially access and utilize the social graph for eCommerce.”

The other important aspect of the deal is that it is primarily focused on local or regional businesses. Groupon has also started promoting national deals of the kind it did with The Gap, but the company’s real power is in helping small and medium-sized retailers, restaurants and other merchants connect with customers directly, and boost demand for their services and products. That’s a market Google hasn’t been able to really capitalize on, despite attempts to do so through its Places feature. That was the rationale behind the web giant’s reported interest in buying Yelp — a deal which didn’t go forward, for unknown reasons — and it is driving its interest in Groupon as well.

What would web advertising look like if Google were to acquire Groupon? Instead of just keyword ads targeted to what you searched for, you could start to see offers directed specifically at your location, or based on things you have searched for in Google Places, or places you have checked in at through Google Latitude, or services you have rated via the web giant’s new and somewhat underwhelming Hotpot recommendation service. Google’s knowledge of algorithms could provide better matching and sorting of those deals, and the search company could also use the knowledge that it gains from Groupon’s millions of users and advertisers to fine-tune some of its other locally focused services.

In a recent interview, Don Rainey of Grotech Ventures — an investor in Groupon’s largest competitor, LivingSocial — talked about a future in which consumers and local businesses could participate in a kind of real-time auction-style marketplace for deals on products and services, so people looking for deals on dinner tonight could survey the offers from local restaurants and pick the ones they wanted, and merchants could fine-tune their offers based on real-time demand. That is one future that Google desperately wants to be part of, and $6 billion probably seems like a small price to pay for a seat at that table. For more on Groupon, please see my GigaOM Pro report.

Related GigaOM Pro content (sub req’d):

• Why Google Should Fear the Social Web


• Lessons From Twitter: How to Play Nice With Ecosystem Partners


• What We Can Learn From the Guardian’s Open Platform

Post and thumbnail photos courtesy of Flickr users Groupon and TechCrunch

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

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Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

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As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

Vice President Biden heads to Capitol Hill today to lobby Senate Democrats to support the tax cut compromise, as President Obama faces criticism from congressional Democrats that he should have fought more for the Bush tax cuts on the ...

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Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

Vice President Biden heads to Capitol Hill today to lobby Senate Democrats to support the tax cut compromise, as President Obama faces criticism from congressional Democrats that he should have fought more for the Bush tax cuts on the ...

Knight Science Journalism Tracker » Blog Archive » <b>News</b> from the <b>...</b>

Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.

Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.

In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.

To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.

Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).

Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.

Building a Strong Frame

Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.

For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”

It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.

Changing Course

Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.

“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”

Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.

It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.

“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.

Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.

Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry

Sponsored by Microsoft BizSpark

BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.

For more Startups coverage:

class="f-el">class="cov-twit">Follow Mashable Startupsclass="s-el">class="cov-rss">Subscribe to the Startups channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for Android, iPhone and iPad

After a week of on-and-off rumors about Google making an offer for Groupon, there are now multiple reports that the web giant is close to paying as much as $6 billion for the social-shopping service, which has been growing faster than just about any tech-related company in recent memory — including Google. If true, the deal would be almost twice the size of the search company’s largest acquisition ever (the $3.1-billion purchase of DoubleClick in 2007), and would be a gigantic bet on two trends that Google has so far failed to really take advantage of: namely, the movement of local advertising onto the web, and the rise of social behavior online.

Google’s $1.65-billion acquisition of YouTube in 2006 makes a good comparison for its apparent interest in Groupon: At the time, online video — and just as important, the sharing and embedding of that video — was clearly the future of the web, but Google was a tiny player in that market and wanted to get big quickly. So it paid what seemed like a massive amount of money at the time for the startup, and has spent the past few years trying to figure out how to monetize that content.

The nice part about Groupon is, while YouTube was located more towards the social end of the spectrum and less the monetization end, the group-buying service is a monetization machine — although one that is also socially oriented, since it takes advantage of consumers’ desire to trigger discounts by forming a group. Clearly one of the big attractions for any acquirer is the fact that Groupon is bringing in an estimated $50 million in revenue a month, and expects to close the year with more than half a billion dollars in sales. That’s after less than two years in existence.

Why has Groupon been able to grow so quickly? As I outline in my latest GigaOM Pro report (subscription required), the startup’s rapid success is a sign of how explosive the power of social media can be when applied to a revenue-generating idea like coupons. As co-founder and angel investor Eric Lefkofsky described in a recent interview about Groupon, the company (which was originally called The Point, and focused on connecting people around social issues and activism) didn’t really take off as a business until it married the viral nature of a group-buying offer with the desire by local retailers to reach out to potential customers. Email is the company’s primary method, but it’s also fueled by social networks like Twitter and Facebook.

More than anything, Groupon has been riding the social-advertising wave, which is something Google desperately wants to own. In many ways, it’s the next step beyond AdWords and AdSense: While those products involve advertising keywords that sit next to searches and capture surfers who are looking for information about specific topics, Groupon reaches out to people who may not even know they want the item yet. The company’s DoubleClick acquisition gave it control of banner advertising, but banners are the past; social advertising is the future. As Macquarie Research analyst Ben Schachter said in a research note this morning, the purchase “is about much more than Google generating revenue from emailed coupons — it’s about Google’s ability to potentially access and utilize the social graph for eCommerce.”

The other important aspect of the deal is that it is primarily focused on local or regional businesses. Groupon has also started promoting national deals of the kind it did with The Gap, but the company’s real power is in helping small and medium-sized retailers, restaurants and other merchants connect with customers directly, and boost demand for their services and products. That’s a market Google hasn’t been able to really capitalize on, despite attempts to do so through its Places feature. That was the rationale behind the web giant’s reported interest in buying Yelp — a deal which didn’t go forward, for unknown reasons — and it is driving its interest in Groupon as well.

What would web advertising look like if Google were to acquire Groupon? Instead of just keyword ads targeted to what you searched for, you could start to see offers directed specifically at your location, or based on things you have searched for in Google Places, or places you have checked in at through Google Latitude, or services you have rated via the web giant’s new and somewhat underwhelming Hotpot recommendation service. Google’s knowledge of algorithms could provide better matching and sorting of those deals, and the search company could also use the knowledge that it gains from Groupon’s millions of users and advertisers to fine-tune some of its other locally focused services.

In a recent interview, Don Rainey of Grotech Ventures — an investor in Groupon’s largest competitor, LivingSocial — talked about a future in which consumers and local businesses could participate in a kind of real-time auction-style marketplace for deals on products and services, so people looking for deals on dinner tonight could survey the offers from local restaurants and pick the ones they wanted, and merchants could fine-tune their offers based on real-time demand. That is one future that Google desperately wants to be part of, and $6 billion probably seems like a small price to pay for a seat at that table. For more on Groupon, please see my GigaOM Pro report.

Related GigaOM Pro content (sub req’d):

• Why Google Should Fear the Social Web


• Lessons From Twitter: How to Play Nice With Ecosystem Partners


• What We Can Learn From the Guardian’s Open Platform

Post and thumbnail photos courtesy of Flickr users Groupon and TechCrunch

advertising enlarging

Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

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Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

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Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

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Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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Senior White House Official: &#39;We Wanted a Fight,&#39; too <b>...</b>

Vice President Biden heads to Capitol Hill today to lobby Senate Democrats to support the tax cut compromise, as President Obama faces criticism from congressional Democrats that he should have fought more for the Bush tax cuts on the ...

Knight Science Journalism Tracker » Blog Archive » <b>News</b> from the <b>...</b>

Wikileaks is top news right now. And not only for political journalists. There is a science journalism perspective, too, proves the Frankfurter Allgemeine Zeitung (Jürgen Kaube). “Every social relationship depends on some, perhaps a lot ...

Hulu plans its own entertainment <b>news</b> show, but will anyone watch?

As Peter Kafka at MediaMemo reports, Hulu is currently casting for a presenter for the show which will be published daily, taking a 'Daily Show'-style satirical approach to the latest entertainment news. Hulu (backed by US TV giants NBC ...

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This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.

Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.

In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.

To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.

Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).

Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.

Building a Strong Frame

Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.

For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”

It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.

Changing Course

Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.

“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”

Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.

It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.

“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.

Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.

Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry

Sponsored by Microsoft BizSpark

BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.

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After a week of on-and-off rumors about Google making an offer for Groupon, there are now multiple reports that the web giant is close to paying as much as $6 billion for the social-shopping service, which has been growing faster than just about any tech-related company in recent memory — including Google. If true, the deal would be almost twice the size of the search company’s largest acquisition ever (the $3.1-billion purchase of DoubleClick in 2007), and would be a gigantic bet on two trends that Google has so far failed to really take advantage of: namely, the movement of local advertising onto the web, and the rise of social behavior online.

Google’s $1.65-billion acquisition of YouTube in 2006 makes a good comparison for its apparent interest in Groupon: At the time, online video — and just as important, the sharing and embedding of that video — was clearly the future of the web, but Google was a tiny player in that market and wanted to get big quickly. So it paid what seemed like a massive amount of money at the time for the startup, and has spent the past few years trying to figure out how to monetize that content.

The nice part about Groupon is, while YouTube was located more towards the social end of the spectrum and less the monetization end, the group-buying service is a monetization machine — although one that is also socially oriented, since it takes advantage of consumers’ desire to trigger discounts by forming a group. Clearly one of the big attractions for any acquirer is the fact that Groupon is bringing in an estimated $50 million in revenue a month, and expects to close the year with more than half a billion dollars in sales. That’s after less than two years in existence.

Why has Groupon been able to grow so quickly? As I outline in my latest GigaOM Pro report (subscription required), the startup’s rapid success is a sign of how explosive the power of social media can be when applied to a revenue-generating idea like coupons. As co-founder and angel investor Eric Lefkofsky described in a recent interview about Groupon, the company (which was originally called The Point, and focused on connecting people around social issues and activism) didn’t really take off as a business until it married the viral nature of a group-buying offer with the desire by local retailers to reach out to potential customers. Email is the company’s primary method, but it’s also fueled by social networks like Twitter and Facebook.

More than anything, Groupon has been riding the social-advertising wave, which is something Google desperately wants to own. In many ways, it’s the next step beyond AdWords and AdSense: While those products involve advertising keywords that sit next to searches and capture surfers who are looking for information about specific topics, Groupon reaches out to people who may not even know they want the item yet. The company’s DoubleClick acquisition gave it control of banner advertising, but banners are the past; social advertising is the future. As Macquarie Research analyst Ben Schachter said in a research note this morning, the purchase “is about much more than Google generating revenue from emailed coupons — it’s about Google’s ability to potentially access and utilize the social graph for eCommerce.”

The other important aspect of the deal is that it is primarily focused on local or regional businesses. Groupon has also started promoting national deals of the kind it did with The Gap, but the company’s real power is in helping small and medium-sized retailers, restaurants and other merchants connect with customers directly, and boost demand for their services and products. That’s a market Google hasn’t been able to really capitalize on, despite attempts to do so through its Places feature. That was the rationale behind the web giant’s reported interest in buying Yelp — a deal which didn’t go forward, for unknown reasons — and it is driving its interest in Groupon as well.

What would web advertising look like if Google were to acquire Groupon? Instead of just keyword ads targeted to what you searched for, you could start to see offers directed specifically at your location, or based on things you have searched for in Google Places, or places you have checked in at through Google Latitude, or services you have rated via the web giant’s new and somewhat underwhelming Hotpot recommendation service. Google’s knowledge of algorithms could provide better matching and sorting of those deals, and the search company could also use the knowledge that it gains from Groupon’s millions of users and advertisers to fine-tune some of its other locally focused services.

In a recent interview, Don Rainey of Grotech Ventures — an investor in Groupon’s largest competitor, LivingSocial — talked about a future in which consumers and local businesses could participate in a kind of real-time auction-style marketplace for deals on products and services, so people looking for deals on dinner tonight could survey the offers from local restaurants and pick the ones they wanted, and merchants could fine-tune their offers based on real-time demand. That is one future that Google desperately wants to be part of, and $6 billion probably seems like a small price to pay for a seat at that table. For more on Groupon, please see my GigaOM Pro report.

Related GigaOM Pro content (sub req’d):

• Why Google Should Fear the Social Web


• Lessons From Twitter: How to Play Nice With Ecosystem Partners


• What We Can Learn From the Guardian’s Open Platform

Post and thumbnail photos courtesy of Flickr users Groupon and TechCrunch

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