One of the biggest reasons why many vendors are abandoning Groupon model is because offering a deal to a consumer does not necessarily convert them into a loyal recurring customer.

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Pure Power is aiming to be the first company to convert raw wood products into inputs for the chemical, consumer goods and food industries using a scalable model.

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"There are those of us who genuinely love these things and see something in them that a lot of people don't see, but it doesn't really convert to a commercial reality, " says Donald Kelly, the former executive director of the Rothschild Petersen Patent Model Museum, who now runs Intellectual Asset Management Associates, a Washington, D.

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