LivingSocial, the international daily deals company, is alerting 50 million of its members to hack that left names, emails, birthdays, and hashed passwords exposed.
Living Social chief technology officer and co-founder Aaron Batalion is leaving the company. LivingSocial says it has not hired a replacement as of yet.
Think the group-coupon craze is nearing the end of its life cycle? Tell that to LivingSocial’s investors.
LivingSocial, once the promising number two deals company behind Groupon, confirmed today that it has laid off 400 workers, or around 10 percent of its global workforce.
Guest Post Yesterday was the one-year anniversary of Groupon’s IPO. And it’s been a bad year. Here’s what lies ahead in the deals landscape.
Guest Post Daily deals site LivingSocial is taking on online shopping. Although many will compare it to Groupon Goods, it’s a very different product targeted at a different audience. (Disclosure: I have puts and several wagers against Groupon.)
Guest Post Discount hotel app HotelTonight announced $23 million in funding yesterday. It’s the kind of deal company I can get behind. (Disclosure: HotelTonight provided me a $100 credit to try the service.)
Guest Post In its latest experiment in local commerce, LivingSocial is getting hands on with a new events space in downtown DC. Called 918 F, the space hosts a variety of events including cooking classes, zumba sessions, pop-up restaurants, and painting classes with wine.
Groupon is changing its payment terms with merchants, according to several sources familiar with Groupon’s business and contracts. The company has traditionally used two different payment models. In the United States and Canada, merchants have been paid in three installments.
Local advertising startup Signpost grew its business a little bit Tuesday with a $3.75 million investment and a new employee. Christopher DePatria, former head of sales at AOL Patch, joined the team as the vice president of revenue.
Guest Post People frequently ask me about how LivingSocial and Google Offers are different from Groupon.
I’ve been testing out the Kindle Fire tablet for the last several weeks. At $199, it’s a tremendous value. It’s no iPad — I just upgraded to the new iPad as well — but it provides a solid base-level tablet and reader. I can think of a lot of uses for it: an e-book reader, a video consumption device, and a dedicated Sonos controller. But the most exciting use I can see for it would be for Amazon to turn into a device that helps small, local retailers.
Guest Post I’ve long suspected that Groupon has a whale problem — that a lot of its revenue comes from a small number of customers. New research from ForeSee indicates that this may be the case.
Yelp’s advertiser agreement combines some of the worst elements of Yellow Pages, Aol and cell phone agreements. As with many such agreements, it’s very lopsided in Yelp’s favor. (See my analysis of the similarly lopsided Groupon merchant agreement.)
Groupon reported its first quarterly earnings as a public company this week and blew away its numbers — in the sense that it stopped reporting key numbers investors need to assess the health of its business.
Amazon spent $175 million for a 31 percent stake in number two daily deals site LivingSocial, and in so doing bought us all the best look yet at the privately-held Groupon competitor’s financials.
Guest Post From delayed IPOs to buyouts and layoffs, 2011 proved to be a volatile year for daily deals companies. In the past 12 months, the industry was defined and legitimized, but had just as many mistakes as successes.
Daily deals site LivingSocial has closed a monster $176 million round of financing, according to documents filed with the Securities and Exchange Commission today. VentureBeat has learned that the $176 million is the first tranche of $400 million the company hopes to raise over the next weeks and months to finance continued operations and expansion.
Daily deals site LivingSocial is close to raising nearly $200 million in venture financing, which will value the site at $5 billion, The New York Times has reported, citing unnamed sources close to the matter. Previous LivingSocial investors such as Amazon.com are expected to participate along with new investors, according to the Times.
Groupon’s first technology product Groupon Now appears to be a stinking dud, according to data released on Sunday. The Groupon Now mobile app chalking up some very dour numbers, according to a new report compiled by Yipit, an industry performance tracker. The app has generated approximately $2.6 million in gross sales nationwide in the six months since its launch in May of 2011.
Yesterday’s massive layoffs at daily deals site BuyWithMe were the result of shrinking capital markets, the company’s chief operating officer said today.
Think twice before buying that daily deals voucher; a little research might yield a much lower price than that “bargain” through an online service like Groupon.
Daily online deals startup LivingSocial might delay filing its initial public offering in favor of a new $200 million funding round, according to a Bloomberg report citing anonymous sources familiar with the matter.
Google has acquired German Groupon-like deals site DailyDeal, according to a homepage message from DailyDeal. Google has not confirmed the acquisition nor have terms of the deal been disclosed.
Daily deals startup LivingSocial is partnering with high-end grocery store Whole Foods today. The companies are offering a $10 voucher for a $20 Whole Foods gift card.
Guest Post Every morning, somewhere between 4 and 6 a.m., my inbox is assaulted by daily deal emails. This morning I fought back, feeling a sense of accomplishment as I deleted my last offer: 50 percent off a Brazilian Wax. Sound familiar? Groupon, the inventor of daily deals, has become one of the fastest growing companies in the history of the world. Much to its chagrin, Groupon seems to have created one of the fastest growing, most competitive industries in the world: 581 daily deal copycats now compete for your inbox.
Like other upcoming public offerings, Groupon’s now has a big shadow hanging over it.
As overall VC numbers leveled off in the second quarter, web apps and software continued to be sweet spots for investment through the first half of 2011.
Daily deals sites Groupon and LivingSocial can be a big help to local businesses, or a major pain. Success rates vary, to put it delicately, and the sites (there are now more than 350 of them already) have love/hate polarizing effect among merchants using them.
Google Offers, the mega search company’s Groupon competitor, launched in beta last month in Portland, and we knew it was only a matter of time before it started offering daily deals to the rest of the U.S. Today, Google is touting deals to prospective customers in New York and the San Francisco Bay Area.
LivingSocial is in conversations with bankers about filing for an initial public offering at a valuation between $10 billion and $15 billion, according to CNBC.
More bad news for Groupon, the group-coupon company heading for an IPO. Its share of the group-buying market declined in May, according to the latest report from Yipit, a site that aggregates deals from 482 sites.
Daily deals site LivingSocial announced today the acquisition of pan-Arab deals site GoNabit for an undisclosed sum.