Too Long; Didn't Read
Groupon was hailed by Fortune in 2010 as the <a href="http://www.forbes.com/forbes/2010/0830/entrepreneurs-groupon-facebook-twitter-next-web-phenom.html" target="_blank">fastest company ever to reach $1 Billion in revenue</a>. <a href="https://hackernoon.com/tagged/groupon" target="_blank">Groupon</a> had the kind of Product-Market Fit that every founder dreams about. Amazing appeal with both consumers and businesses with “35,000 companies clamoring to be on its roster. Only one in eight applicants makes the cut.” But the same article identifies the problem “Anyone can replicate it. More than 200 copycat sites have sprung up in the U.S., with another 500 overseas, including 100 in China.” Just 3 years later the founder and CEO had resigned.