Online group buying site Mercata pulled its IPO last night, and announced today they're shutting down at the end of the month. I was wondering what that meant for competitor MobShop who had announced a few months back that they were shifting focus to become more of a B2B play. Here's another article with plenty of quotes from MobShop's CEO about Mercata's failure. He basically says that Mercata needed to spend even more money to really build their brand. He is happy, however, that they spent so much money popularizing the idea of group buying (even though it may now be associated with failure).
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