The social network’s large audience and detailed database of user preferences positions it to be a fierce competitor in this market, which is expected to generate nearly $4bn by 2015, according to consulting firm BIA/Kelsey. Facebook’s move could boost its revenue stream as it considers a public offering – and potentially compromises Groupons impending IPO.  Maybe Groupon should have taken that $5b offer from Google after all.

By now you have probably heard of the e-coupon company, Groupon.  So, what is Groupon and how does it work?  Groupon was the brainchild of founder Andrew Mason who formed the company two years ago and has exploded both in terms of market penetration (50 states) and valuation (they recently rejected a $5billion offer from Google).  They are the “Cadillac” of e-coupon companies and have over 4 million subscribers.  The model is very simple.  They will advertise your business to your local community and charge you anywhere from 35-50% of the sale of the product or service (if it is below 50% then they will also charge you a 3% credit card processing fee).  In addition, you will need to reduce the cost of your product by 50% or more.   A “daily deal” is then sent out with your offering and if they hit the minimum number of buyers the “deal is on”.  Groupon then collects the funds from the consumer and the merchant is paid their percentage the next day.

Facebook will offer multiple deals every day, generated by its own sales force and also aggregated from nine partners, including Open Table, Plum District and Zozi. Facebook says it will seek to specialize in offering deals that can be shared among friends.

Imagine the possibilities if you have a business that can supply or serve multiple states or countries.  Facebook currently has 600m members and is growing at a clip of 50,000 new users per day.  The information they gather on each member gives marketers a very targeted market for their product or service.  Facebook knows your age, your birthday, where you live, what  you like, what you buy, who you know, where you went to school, where you work, the kind of music and shows you like, the movies you like, etc…  The biggest challenge for a merchant utilizing Facebook’s “daily deal” will be the amount of orders a merchant can handle. 

Stay tuned…this is going to get fun!!!

By, Steven Quarles, Managing Director

The successful candidate will have 5 yrs of experience in developing web services in Java, exposure to and understanding of iterative software development, experience working in a start-up environment. Proficiency with Java, Eclipse IDE, maven 2, JUnit, JDBC, Hibernate, UNIX command line. Familiarity with Spring Framework, web application development, XML. Experience with thread synchronization in Java, raw socket communication in Java and experience with at least one mainstream relational database.

Competitive benefits including medical, dental, vision, short term and long term disability benefits, life insurance, flexible spending accounts, paid time off, 401k with matching contributions, stock options, educational assistance, gym reimbursement and commuter bucks.

Competitive benefits including medical, dental, vision, short term and long term disability, life insurance, flexible spending accounts, paid time off, 401k with matching contributions, stock options, educational assistance, gym reimbursement and commuter bucks.

Competitive pay based on experience.

Skills/Qualifications

5-7 Years of Experience in the IT Staffing Industry

Orange County, CA. area

Strong computer skills, i.e. word, excel, outlook, internet

Must be willing to work in a fun, aggressive, professional environment

Bachelor’s preferred

Exception to a college degree would be 5+ years of IT staffing industry experience as a top producer.

Compensation Plan: Base plus commission. 10%-20% of gross margin from day one and guaranteed commissions for the first six months.

KoreOne is a provider of IT staff augmentation services. With customers ranging in size from start ups to fortune 500 enterprises, we understand the ever increasing need for talented IT professionals and SME’s in the technology arena. KoreOne is in business to help our clients maintain their competitive advantage by cost-effectively delivering highly skilled consultants focusing on quality and efficiency.

KoreOne Technologies is hiring Financial Software Engineers to work at our client’s headquarters based in Newport Beach, CA to join the front office and client services team. You’ll assist in the design, construction, and enhancement of our clients applications used throughout the business units.