For Subscribers

How Yipit Is Upending the Daily Discount Model This new service scans the web to aggregate offers. Plus, a look at other game-changing companies catering to bargain hunters.

By Kara Ohngren Prior

Opinions expressed by Entrepreneur contributors are their own.

100 Brilliant Companies

The recession gave way to a nation of cheapskates. No one wants to pay full price for anything anymore, and consumers continue to spend 30 percent less than they did in 2008, Gallup's consumer spending poll shows.

But consumer spending on daily deal sites is set to soar to $3.9 billion by 2015, says a recent study by BIA/Kelsey, a media consulting firm. And with sites like Groupon and LivingSocial bringing in $1 million a day in revenue, a market that didn't exist three years ago is expected to grow 138 percent in 2011 with a staggering $2.7 billion in revenue, TechCrunch reports.

The real winners of the new frugal economy are the businesses helping people save that precious dough. One of the more ingenious is Yipit, a website that aggregates and recommends local offers from more than 400 deal sites in 32 cities. Rather than signing up for loads of different services, users can simply sign up for Yipit, enter their preferences (e.g., send restaurant deals, but not bungee-jumping deals) and receive a single, personalized e-mail each day.

"It's a one-stop shop," says Vinicius Vacanti, who co-founded Yipit with business partner Jim Moran in February of 2009.

"We quickly realized that people don't necessarily just love deals--they love doing great things and living better lives without paying full price," Moran says.

Since raising $1.3 million in venture funding last summer, Yipit has been basking in the limelight with spots on The Today Show, The Early Show and CNN. Its subscriber base grew 25 percent each month this year and now tops 185,000.

Though the company is tight-lipped about revenue figures, Yipit's business model is two-fold: affiliate revenue directly from the featured deal sites, and what it calls Yipit Data Product, a competitive report that is sent out to deal sites nightly detailing all the activity in the daily deal space in a given city and nationwide.

Up next: Continued expansion into all major metro markets in the U.S. and internationally, as well as added location-based features. "Philosophically," Vacanti says, "it's all about building the best experience possible.


More Value Brilliance

CalcMoolator With tools to help users do everything from manage their mortgage payments to compare job opportunities and pay off debt, this website aggregates more than 175 financial calculators.

Deal Current Who needs Groupon? This outfit helps companies develop their own customized daily deal programs.

FuelFrog By compiling trend reports, this simple service helps you track your gas mileage and improve your car's fuel economy.

NeighborGoods Share and share alike: Winner of the Best Bootstrapped Startup award at this year's SXSW Festival, this website allows users to easily share their stuff with neighbors and friends.

Price Protectr The site has saved users more than $3 million by tracking the prices of items shoppers are considering and even helping them get money back once they've made a purchase.

RelayRides A neighbor-to-neighbor car-sharing service that helps car owners lend out their vehicles by providing the proper insurance and technology for a safe, easy transaction.

RetailMeNot A coupon clipper's dream: A website that enables users to search for discount codes from more than 65,000 e-tailers.

SmartyPig It's a virtual piggy bank: Set savings goals and solicit donations from friends and family through Facebook and Twitter--all with a competitive 1.35 percent interest rate.

Swap.com Bartering is cool at this online swap shop. The site has reportedly coordinated 1.9 million swaps, saving users a whopping $11.9 million.

Kara Ohngren is a freelance writer and part-time editor at YoungEntrepreneur. Her work has appeared in publications including Entrepreneur Magazine, The New York Times, MSNBC, The Huffington Post and Business Insider.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Buying / Investing in Business

Former Zillow Execs Target $1.3T Market

Co-ownership is creating big opportunities for entrepreneurs.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Franchise

The Hottest Industries Today

Our list of the franchises best positioned for growth, even in uncertain times.

Starting a Business

Entrepreneur+ Subscriber-Only Event | May 28: How This Founder Sold 3 Million Units of His Toy Ball Idea

Subscribe to Entrepreneur+ for just $5! Get access to all member benefits, including our next Subscriber-Only Event with Joe Burke, Founder of Ollyball.

Marketing

How to Get Your First 1,000 Email Subscribers (The Smart Way)

Here's a step-by-step system for startup founders to build their first 1,000 engaged email subscribers — without guesswork or gimmicks.