"We did Groupon," Performance Flight CEO Lewis Liebert told us. "We'll never do that again." For those of you who think Groupon sounds like the seafood special of the day, let us fill you in. Participants in Groupon offer a product or service, a discovery flight in this case, at a discount. Groupon then sells that discounted product to its list and pockets 20 percent of the sale. For Liebert, that turned a $299 flight into $143 in revenue once all the discounts came out—a loss for Leibert unless only a small percentage of the buyers actually redeem. That might happen with a $20 dinner, not a $299 intro flight.
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