LivingSocial Teams up with SeatGeek

Groupon Set to Release Third Quarter Financial Results Today

Groupon Updates Deal Builder

LivingSocial Shuts Down Seattle Office

livingsocial troublesLivingSocial doesn’t agree much with Yahoo’s CEO Marissa Mayer and her ban on employee’s working from home. LivingSocial made the decision to shut down their Seattle office, but will allow staff to work from home.

The question remains how many of the 40 or so employees will stick around giving LivingSocial’s recent troubles.

“While we did indeed eliminate the physical office space in Seattle, our employees based there will be working from home” said LivingSocial spokeswoman Sara Parker.

LivingSocial has had a rough six months, raising a $110 million funding round which had questionable terms and posting a $44 million loss in the first quarter.  The company also went through a round of layoffs cutting more than 10% of its workforce.

Back in January, CEO Tim O’Shaughnessy told employees that the company hopes to reach profitability by springtime.

A timeline of LivingSocial’s woes in 2013:

February 6, 2013: LivingSocial Experiencing Financial Woes

February 26, 2013: LivingSocial Forced to Concede on New Investment

February 27, 2013: LivingSocial Cancels Employee Bonuses

April 26, 2013: 50 Million Customers Impacted by LivingSocial Data Breach

April 26, 2013: LivingSocial Cuts Operating Losses to $44 Million

April 30, 2013: Is LivingSocial Offering Deals with Possibly Defunct Companies?

May 15, 2013: LivingSocial Loses Longtime Sales Chief – Mandy Cole

June 1, 2013: LivingSocial Named as Brand that may Disappear in 2014

June 4, 2013: Is a Recent LivingSocial Deal Trying to Scam Customers?

June 19, 2013: LivingSocial Shuts Down Seattle Office

 

 

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Daily Deal Media covers the growing power of social buying generally called “Daily Deals”. With the explosion of companies like groupon, livingsocial and many others, the way consumers purchase online may have been altered forever. Which companies will emerge as front runners in this space, and who are some of the executives behind them? Which investors stand to gain the most, and which companies have they backed? Daily Deal Media helps you keep up with this fast pace industry, and provides valuable insight, resources, industry reports, forums and more.
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