Moguldom Launches Exclusive Partnership with Groupon
Exclusive Partnership Makes Groupon Opportunities and Content Available through Bossip.com, MadameNoire.com, AtlantaPost.com, and Other Moguldom Digital Properties
NEW YORK – November 17, 2010 – Moguldom Media Group, an innovative new media company, today announced that it has signed a national agreement with Groupon, a shopping website that offers daily deals on local goods, services, and cultural events across the U.S., Canada, Europe, and Latin America. Visitors to Moguldom digital destinations such as Bossip.com, HipHopWired.com, MadameNoire.com, and AtlantaPost.com will see specially selected Groupon deals chosen with an eye toward the needs, preferences, and standards of Moguldom’s influential African-American audience.
By partnering with Moguldom, Groupon will help its network of businesses gain exposure, generate word-of-mouth, and win new customers among African-American consumers, a group whose economic significance has been growing significantly in recent years. African-American buying power increased more than 55 percent between 2000 and 2008, when it reached $913 billion, and is expected to reach $1.2 trillion by 2013 (Nielsen). Moguldom digital properties, tailored to culture, news and commentary, women, fashion, and entertainment, have helped the company build a thriving audience of thought leaders and opinion-makers whose influence extends throughout the diverse African-American community.
For members of the Moguldom audience, the agreement is the latest component of a rich digital experience which encompasses content, community, connections, and now commerce as well. Said Marve Frazier, Chief Creative Officer of Moguldom Media Group, “We see value and opportunity in leveraging our intimacy with our various audiences and bringing them quality deals from a premium partner such as Groupon. This exclusive partnership also allows us to take a step in developing diversification in our revenue mix with innovative approaches to e-commerce.”
Using the principles of collective buying, Groupon negotiates dramatically discounted deals with local businesses. Groupon subscribers receive free daily emails alerting them to the deals. These deals are only activated if a minimum number of people agree to buy, which encourages subscribers to share the promotion with family and friends via social media tools such as Facebook and Twitter. By guaranteeing a large number of new customers for participating businesses, Groupon creates a win-win for the merchants. This innovative approach to local commerce has generated millions in new revenue for local businesses and has saved subscribers more than $285 million.
Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in more than 150 cities around the world. Groupon uses collective buying power to offer unbeatable prices and provide a win-win for businesses and consumers. For more information, visit http://www.groupon.com. To learn more on how to become a featured business on Groupon, visit http://www.grouponworks.com.
About Moguldom Media Group
Moguldom Media Group is an innovative multimedia company that develops and manages premium digital publishing brands that capture the pulse of divergent segments of African-Americans. Our leading brands are leveraged on multiple media fronts such as online video, mobile, radio, and social platforms such as Twitter.