Tuesday, June 07, 2011

Groupon Gets Into Pawn Business

Apparently the founders of Groupon saw the writing on the wall and have backed the next big thing in ecommerce, pawn shops.

Lightbank run by the founders of Groupon led a round of financing for Pawngo

The Pawngo business model, as CEO Todd Hills explained it, is aimed at people who need between $1,500 and $15,000. They send in information about items they wish to pawn and Pawngo’s valuation lab in Denver returns an estimate within an hour.

How about creating or funding a site that provides a secondary market for groupons?

You have to wonder how valuable the Groupon email subscriber list is and what other "deals" they could offer.

Story from All Things Digital

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