DailyDeal : Deal for the day
Post By Himanshi Gupta on 01-July-2015
How often do you see a successful entrepreneur with a heart of gold? Or how often do you find a startup after acquisition starting up once again? A startup being acquired by Google, just so that its founders can buy it back again doesn’t occur so often either!
DailyDeal is one such local commerce company, a coupon promotional site much like Groupon, in Germany. It was founded in Germany by Fabian and Ferry Heilemann few years ago. Before the startup, the two brothers worked for various firms like Simon + Kucher & Partners or Booz & Company, but working for someone else didn’t serve their desire to take their own decisions, thus leaving them with no option than to become entrepreneurs!
In 2001, Fabian & Ferry had tried their hand at entrepreneurship, by starting & running an event-gastronomy company successfully. It provided them not just with experience but also faith in their teamwork. They stumbled upon DailyDeal after analysing & discussing around 60 ideas & finally going with the most marketable one. Initially, in December, 2009, they were just a three-member team, involving a developer. Just 3 months later, in 2010, they employed 100 people!
The basic aim behind this starting this company was to provide restaurants, hotels, hairdressers, wellness salons and other local companies with a platform to win new customers online by offering them discounts for specific products/services or for off peak periods.
In its early days, DailyDeal faced strong competition from Citydeal & in 2011 Google acquired this startup for $114 million. Google restructured their team. It was followed by Google laying off staff & winding up company operations. It was at this point when the founders decided to act from their heart! There was a time when Fabian considered himself as the luckiest person, to sell his company right before the collapse of the coupon hype. Surely, he wasn’t familiar with his future move! It proved that for them it wasn’t just a business, it meant something more to the two brothers.