Gym Closes After Groupon Deal

Groupon Stock Seems like a Good Deal These Days

LivingSocial CFO Steps Down

LivingSocial CEO Says He Has No Plans To Go Public

Tim O’Shaugnessy, livingsocial, daily deal mediaThe streak of disappointing Internet IPO’s continues to make tech companies think twice about going public. You can now add LivingSocial to the list of cautious companies.

LivingSocial CEO Tim O’Shaugnessy told a group of journalists yesterday that he has no plans to go public.

 “I don’t talk about it in any significant way,” said O’Shaugnessy. “If the pros outweigh the cons, we would do it.”

 The disappointing performances of recent tech IPO’s likely played a role in O’Shaugnessy’s decision. LivingSocial was expected to follow Groupon in going public after their deal site competitor went public in November.

Groupon however is reeling from a disappointing public offering, currently trading at about half of its $20 IPO price.   

LivingSocial lost $558 million last year and is still looking for ways to diversify their offerings. The company currently makes 75 percent of their revenue through daily deals but hopes knock that umber down to 50 through future services. They also currently employ about 5,000 workers.

Despite the losses the Washington D.C. based company says they do not need the financial bump that comes with going public. LivingSocial has raised about $600 million in venture capital and Amazon has a 29 percent ownership in the deal site.  Chief financial officer John Bax said the public offering was not necessary with “the way we have the business configured today.”

LivingSocial cites that they trail behind Groupon in the daily deal market with 26 percent to their competitors 61 but they also said that smaller companies are leaving the market. Bax added that his optimistic about the business and the company is not looking to be an acquisition.  

This is a healthy business, this is a healthy industry,” Bax said during the media event.

 Yahoo!7 News

 

 

Eric Morrow

Eric Morrow is a contributor to Daily Deal Media. His writings primarily focus on social media, technology, and start-ups. In the past he has worked at NBC, WTOP News Radio, and Ology Media. In his spare time Eric enjoys reading and playing basketball.
Newsletter
DDM Reports
The 2014 Edition of the DDM Daily Deal Publisher Directory is the most comprehensive contact list for daily deal sites, flash retailers, aggregators and individuals operating in the daily deal industry. Each record includes the following: - Company Name - Website - Contact Name - Contact Title - Email - Phone - Address (not all records contain a full mailing address)
The 2013 Media List is a comprehensive database of all major media, bloggers and product/app review websites. If you're looking for PR distribution, this is a great list to begin with. Each record includes: - Contact Name - Publication Name - Website URL - Address - Email - Description
2.7M Consumer Subscribers. This data has been aggregated from a number of websites, which include daily deal sites that have gone out of business. Data includes: - Full Name - Address - Phone Number - Email - Signup Website - IP Address - Date of Signup Data will be delivered via a dropbox link in CSV format.