LivingSocial recently issued stock worth $29.4 million in relation to one or more acquisitions, according to two new SEC filings. The filings show that LivingSocial issued equity valued at $24.6 million and $4.8 million on June 21 and June 22nd, respectively.
The filing indicates that the offering is “in connection with a business combination transaction, such as a merger, acquisition or exchange offer.”
Just a few days later, LivingSocial announced the acquisitions of international daily deal sites Ensogo (in Thailand and the Philiipines), its subsidiary DealKreken (Indonesia) and GoNabit (which operates in the Middle East). No price was announced at the time.
I’ve confirmed with LivingSocial that these filings are related to the international acquisitions. But note that the SEC only requires companies to file the amount of stock issued. If the deals were a combination of cash and stock, LivingSocial could have paid more.
LivingSocial is the social commerce leader behind LivingSocial Deals, a group buying program that invites people and their friends to save up to 90 percent each day at their favorite restaurants, spas, sporting events, hotels and other local attractions in major cities. LivingSocial has an extensive user base of more than 85 million, and is headquartered in Washington, D.C.
About Ensogo Ensogo offers daily deals from 50% to 90% off the best things to do, see, eat, and buy around Thailand, Philippines and Indonesia. Consumers can visit http://www.ensogo.com, http://www.ensogo.com.ph and http://www.dealkeren.com to see the deals of the day or sign up to receive deal alerts. Deals may also be shared through e-mail, facebook and twitter. Ensogo also enables businesses to promote their products, services, and brand online through offering attractive deals available for a limited time.
GoNabit lists one deal per day in each city. Deals provide great value buying opportunities for a limited period of time - typically 24 hours. We negotiate great discounts based on strength in numbers - we collectively commit to buying a certain number of Nabits, and in return local businesses give huge discounts. GoNabit bridges the gap between clicks and bricks - and by activating the social value graph - truly helps people experience social commerce through strength in numbers. GoNabit...