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Blood Battle of Social Commerce Giants

There’s some fierce action going on in Korean social commerce industry.

The action is even more pronounced in the top four in the industry: Ticketmonster, Coupang, WeMakePrice and Groupon Korea.

And just 30 minutes ago, WeMakePrice and Groupon Korea both launched some mega-budget stunts:

 

Groupon Korea launched a deal where they are giving away 3,000 Won worth of coupons for free to be redeemed at Paris Baguette, one of Korea’s largest bakery/deli chains. It’s interesting though, that some news sources say this deal previously was cancelled by Paris Baguette 2 hours before it was supposed to be featured. But the deal seems to be featured online still. Clicking on “Purchase” button does not return any pages, however. We will keep you posted as to what exactly is happening here. If the deal really is cancelled, this is a huge blow to Groupon’s reputation in Korea.

 

WeMakePrice is offering whooping 1,000,000,000 Won in lucky draw! That’s right. This is unheard of. Then again, they are only offering that amount if 1 million users sign up. So if you think about it, they are really paying out 1,000 Won per user they gather, which is not a bad deal for WeMakePrice at all.

The real question is… Who will remain standing at the end of this bloody battle of social commerce giants in Korea?

Posted on May 3, 2011 at 12:37 am

Categories: Business, Social Commerce

Written by

Like all true savvy road-warriors, Richard is armed with nothing more than pure passion and perpetual low-battery Blackberry. He’s a Johns Hopkins and Cornell Alum with background in engineering and business. Richard brings experience from hard tech (pharmaceutical R&D), social (founded a popular events promotions company), and the fusion of both (started SeoulGrid.com, Seoul restaurants, bars and clubs review blog). Richard is the CEO of a startup based in Seoul called Spoqa, giving customer loyalty program the social upgrade.