The group buying frenzy is not yet over and after the original daddy, i.e. Groupon entered India, leading ecommerce portal eBay too has started their own daily deals service.
The portal (http://kuponanindia.ebaysocialapps.com) currently offers deals in only 2 cities (Mumbai/NCR) and it seems, eBay has been testing group buying concept in Philippines ( http://kuponan.ebaysocialapps.com/) as well.
It’s important to note that this is a direct consumer service (and not a white label solution for sellers).
From the FAQs
How does eBay Group Buying work?
The merchant agrees to offer customers a specific product or service at a highly discounted rate (usually 50% off or more) if eBay Social Shopping can generate more than the specified minimum number of sales chosen by the merchant. Once the minimum number of sales is reached, the deal becomes activated (called the tipping point) and all the customers that signed up for the deal become eligible. In the event the deal becomes eligible, the customers will get an email voucher specifying the details of the deal; in case the deal does not get eligible, the customer will get the refund of the amount that he paid to participate in the deal.
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Hat tip: Vivek