| Website | coupflip.com |
| @CoupFlip | |
| Category | Software |
| phil@coupflip.com | |
| Employees | 8 |
| Founded | 2011 |
| Description | Buy & Sell Daily Deals |
| VENTURE FUNDING | |
| Angel, 12/11 Otto Group |
CoupFlip buys and sells unused daily deals, paying cash to deal owners suffering from buyer’s remorse.
CoupFlip creates a liquid, mobile enabled, secondary market for daily deals, such as Groupon. CoupFlip solves the problem of buyer’s remorse around these coupons and allows consumers to find a deal after it has already passed. CoupFlip is unique in that it gives sellers the opportunity for immediate sale. There is absolutely no waiting around for your deal to sell on consignment. Similar to Cardpool and Plastic Jungle in the giftcard space, CoupFlip takes inventory.
The group buying market (Groupon, LivingSocial, etc) overall is estimated to reach $5.2B in revenue during 2011. Despite popularity, these group deals have two major problems for consumers. First, consumers often regret their purchases. 20-40% of vouchers go unused and many more are only used because they must be in order to capture the sunk cost. Second, consumers often miss out on the opportunity to buy a particular voucher because of the nature of the flash sale timing.
CoupFlip.com’s secondary market addresses both these problems and helps unlock significant value that would otherwise go wasted.
