Is this a Latin Groupon in the making? Group buying platform PapáPosible.com will be launched this week to serve the exploding Latino population in the United States. You are reading it in Portada first. The site, which is launching in Miami, Los Angeles, New York, Houston, and Chicago, is built around a folksy avatar named Papá. His mission is to help the entire community achieve success.
Through the power of group buying, Papá features coupons and deals where Latino consumers can save up to 90% on products and services they want and need for their families. Revenues are driven by transaction side coupon redeeming. PapáPosible sells coupon to consumers and reimburses the vendor.
Ron Rimkus, one of the site cofounders tells Portada that his company just hired seven sales employees to work on the five local markets. He cites Needs (Groceries, Dentist, Auto maintenance), Luxuries (restaurants, spas) and Activities (soccer, boat cruises) .as the main categories of advertisers.
PapáPosible is financed by Ron Rimkus and his co-founder, a silent partner. In addition, they got funding from angel Investors. According to Rimkus a new round of financing as long as the terms are attractive might be an option in the medium term.
Technology to bundle requests
Rimkus and his silent partner own a virtual system platform called ihobbs.com which they are going to use for PapáPosible’s real time data mining and to bundle requests to then negotiate discounts with vendors for discounts.
“We are establishing the local side of it, but also want to develop relations with national advertisers.” Rimkus notes that his strategy targeted to national advertisers includes a Corporate Outreach Program targeting Latino Businesses and Latino segments of larger businesses. This program offers PapáPosible as a resource for group buying. In addition PapáPosible offers national advertisers corporate sponsorships for charitable outreach programs. A percentage of each transaction done through PapáPosible will be donated to scholarships supporting Hispanics.
PapáPosible is one of the first Hispanic Social Buying Groups to emerge.
Another venture is descuentolibre.com. There are new players emerging in this sector both in the Hispanic and general markets. The main aim of these group buying sites is to gain a substantial share of the local advertising market.
