News is coming out of the Netherlands that LivingSocial has fired its entire staff there and has closed its offices. Some stories are saying that the Washington D.C. based daily dealer that launched in Amsterdam, Rotterdam and The Hague last spring, may only be reorganizing but according to some, LivingSocial is calling it quits.
Thirty employees have either been terminated or have resigned and LivingSocial’s headquarters in Amsterdam have been closed.
LivingSocial was a latecomer to the Dutch market, arriving after Groupon and facing stiff competition with other existing sites in the country. The company, which just days ago reported 5000 employees worldwide, put its move towards an IPO on hold this past fall and opted instead to raise some $400 million from existing and new investors.
Questions concerning LivingSocial’s recent Netherlands closing were referred to a spokesperson in Britain who said that the company wanted to focus on markets with the greatest potential for growth and success and that overall LivingSocial was healthy and well funded.
Source: parool.nl
