LivingSocial

  • Daily Deal Providers May Be Violating Consumer Protection Laws

    Daily Deal Providers May Be Violating Consumer Protection Laws

    Daily deal providers like Groupon and LivingSocial may be violating several key aspects of consumer protection law. I’ve been looking into issues like gift cards, bankruptcy, sales tax, and alcohol regulations. These might all sound esoteric and not really worthy of discussion, but the outcomes can significantly affect the value proposition to the consumer, merchant and the deal provider. Read More

  • Next Jump Introduces OO.com: Local Deals Powered By LivingSocial, Plus Points

    What happens when you mix local deals with reward points? You get OO.com. A couple months ago, Next Jump, which powers rewards programs for thousands of corporations and credit card companies, inked a deal with LivingSocial to get acces sto its inventory of daily deals. The first fruits of that deal are evident in OO.com, which is a retooling of Next Jump’s Overwhelming Offers (which… Read More

  • Why Daily Deals Are Becoming A Raw Deal

    Why Daily Deals Are Becoming A Raw Deal

    In the wake of Groupon’s IPO filing, it’s worth looking at the fundamentals of the offer. Growth numbers to date have been phenomenal. But is it a business that can last? We love daily deals for a simple reason: the deals have been outstanding. If revenue growth in the first Internet bubble was about selling a dollar for 50 cents, growth in the daily deals business has been… Read More

  • Looks Like Facebook Deals Is Being Unveiled Tonight With Credits And Partners In Tow

    Looks Like Facebook Deals Is Being Unveiled Tonight With Credits And Partners In Tow

    Whoops. Looks like The New York Times has a little embargo breaking situation on their hands. (Which we love — chaos!) They’ve just put up a story with the URL: http://bits.blogs.nytimes.com/2011/04/25/latest-rival-to-groupon-livingsocial-facebook-embargo-till-midnight/ (bolding mine). That page is obviously no longer found, but it was live for a bit. And it is a big one… Read More

  • LivingSocial Financials Exposed: $2.9 Billion Valuation, $50 Million In Revenue Per Month

    There’s nothing like full disclosure during the negotiating process in an acquisition deal. LivingSocial acquired SocialMedia for just $3 million in stock, we reported earlier today. As part of the negotiating process they disclosed key financial information to SocialMedia to help that company understand the value of the stock they were receiving in the deal. That information is now in… Read More

  • LivingSocial Acquires SocialMedia For $3 Million

    LivingSocial Acquires SocialMedia For $3 Million


    Fast growing daily deal service LivingSocial, which just raised $400 million, has acquired long suffering social advertising network SocialMedia, we’ve confirmed. The price was just $3 million, all in LivingSocial stock. Unfortunately, the company had raised around $10 million from Charles River Ventures, Marc Andreessen, Naval Ravikant and Jeff Clavier. SocialMedia’s biggest… Read More

  • LivingSocial Pulls A Groupon … And $200 Million Off The Table

    Fortune’s Dan Primack reports that the LivingSocial management and investors have pocketed about half of the $400 million in new VC money they raised at the beginning of the month, citing this SEC filing. This cashing out early thing is not without precedent, in fact leader in the daily deals space Groupon pulled a similar endeavor during its DST round last April and in January, where… Read More

  • LivingSocial Files To Authorize Up To $565M In Series E [Update: And Raises $400M]

    Reports of daily deals site LivingSocial being in talks to raise around $500 million in Series E are now backed up by LivingSocial’s amended and restated Certificate of Incorporation filed on March 31st and unearthed today by the VCExperts blog. The form shows that Hungry Machine Inc, the holding company for LivingSocial, has filed an intent to raise up to $565 million in Series E… Read More

  • Group Buying Industry In U.S. Estimated To Grow 138 Percent To $2.7 Billion This Year

    Group Buying Industry In U.S. Estimated To Grow 138 Percent To $2.7 Billion This Year

    The group buying industry has sprung out of nowhere over the past two years. A new report (embedded below) by daily deal aggregator Local Offer Network puts the U.S. gross revenues across the industry at $1.1 billion last year, and estimates gross revenues will grow 138 percent to $2.7 billion in 2011. Groupon alone, according to other sources, is expected to bring in between $3 billion and… Read More

  • LivingSocial Gains Wealth Of Ruby on Rails Expertise With InfoEther Acquisition

    LivingSocial Gains Wealth Of Ruby on Rails Expertise With InfoEther Acquisition

    In what appears to be mostly about the talent of its founding team, LivingSocial has moved to acquire Ruby on Rails consultancy outfit InfoEther. The social ecommerce giant, which has raised $232 million in venture capital to date and has been getting nearly as acquisitive as its rival Groupon lately, says InfoEther’s agility and expertise will enhance its ability to innovate more… Read More

  • LivingSocial Hits A Million Amazon Gift Cards Sold, $20 Million In Card Value

    Living Social has been offering $10 off any $20 Amazon purchase since 5am this morning and it’s been a boon huge for the company, which Amazon has invested in. Now the deal has just crossed over the one million mark, with 12 hours to go. LivingSocial tells us that there are currently 99.4K vouchers being sold each hour, 2k vouchers sold each minute and 85 vouchers being sold each… Read More

  • Amazon Throws LivingSocial A Big Bone With $10 Discount

    Today is going to be a big day for daily deal site LivingSocial. It is offering $10 off any $20 purchase on Amazon.com, and it’s already sold more than $2 million worth of the coupons in the first two hours of the deal. There are about 22 hours left to go. Some people are already noting that this 50 percent deal will “blow away” Groupon’s Gap deal, which resulted in… Read More

  • LivingSocial Buys Majority Stake In Let’s Bonus, Expands Internationally

    LivingSocial Buys Majority Stake In Let’s Bonus, Expands Internationally

    Social commerce startup LivingSocial this morning announced that it has acquired a majority stake in Europe’s Let’s Bonus (which sounds an awful lot like “let’s bone us”, but I digress). The partnership brings LivingSocial operations to a total of ten countries, with the addition of Let’s Bonus’ Spain, Italy, Portugal, Argentina and Mexico… Read More

  • LivingSocial: Groupon's Not The Only Company That Can Hire A CFO

    Social shopping company LivingSocial this morning announced that it has recruited an experienced chief financial officer, notably mere weeks after Amazon veteran Jason Child was appointed that role at rival Groupon. Funnily enough, Child’s former employer is the company that just pumped $175 million into LivingSocial. LivingSocial’s fresh CFO is John Bax, a former Wal-Mart… Read More

  • After Failing To Acquire Groupon, Google Said To Be Sniffing Around Smaller Rivals

    Google wants to be in the online group buying space, badly, and with good reason. The company may have not succeeded in purchasing the current leader in the space, Groupon, which has spurned a $6 billion buy-out offer in a bid to stay independent and shoot for the stars, but it seems determined to get in on the action – through acquisition – regardless. According a report from the… Read More

  • Hitwise: Groupon Is Getting 79% Of U.S. Group-Buying Visits Vs. 8% For LivingSocial

    As Groupon weighs a $5 billion+ acquisition offer from Google and LivingSocial is believed to be about get a $100 Million to $150 million cash infusion from Amazon, it is instructive to look at the difference between the two companies. Hitwise looked at a 81 group-buying sites and came up with the chart above, which shows that Groupon commands 79 percent of U.S. visits to the group buying… Read More

  • Tippr Proposes "Open Deal Format", A Standard For The Group Buying Industry

    Tippr, which provides white-label services for group buying, is proposing a new potential technology standard for the group buying industry today, dubbed the “Open Deal Format” or ODF. The company is inviting interested parties, which include group buying service providers, publishers and social networks, to a meeting in Seattle next month. It will then formally propose the standard… Read More

  • LivingSocial Spends $5M On Controlling Stake In Social Shopping Site JumpOnIt

    Social commerce startup LivingSocial is expanding to Australia, acquiring a majority stake in the existing leading social shopping site, Jump On It, rather than competing with them head-on. The agreement involves an investment of $5 million by the Washington, DC-based Groupon rival, and Jump On It will be folded into LivingSocial’s branded Daily Deals. Together with LivingSocial, Jump On… Read More

  • Social Commerce Startup LivingSocial Hits 10 Million Subscribers, Buys Urban Escapes

    Social shopping site LivingSocial this morning announced the acquisition of Urban Escapes, a social adventure company. Urban Escapes offers trips that promote a “fun and active lifestyle and a chance to escape the day-to-day rat race”. Coinciding with the acquisition news, LivingSocial has also disclosed how many subscribers it has attracted to date: 10 million. Read More

  • Look Out Groupon – WhitePages Has Big Plans For Social Buying Site DealPop

    It went by largely unnoticed, but directory services provider WhitePages launched a social buying website called DealPop last July, entering a field played by many notable up-and-comers such as Groupon, LivingSocial and Yelp. Initially, DealPop was only available in Seattle, but the site is expanding to Los Angeles today and to San Francisco in the next two weeks. The company has bigger plans… Read More