Cramer Quick Take: Groupon's Model Is Broken
NEW YORK (TheStreet) -- Jim Cramer had nothing good to say about daily deal-maker Groupon (GRPN) , when he sat down with Debra Borchardt at TheStreet Thursday. Cramer told Borchardt that he's amazed that CEO Andrew Mason still has his job and is shocked that retailers still use the service.
Cramer went on to recall that when Groupon first started, their coupons were for great retailers where he regularly shopped, so getting a coupon made sense. But now, he says, the model is simply not sustainable and is clearly just a flash in the pan.
Watch the full Cramer interview here.
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-- Written by Scott Rutt in Washington.
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