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Entries from Digital Intelligence tagged with "living social"

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Amazon posts first loss in years after Living Social buy

Amazon has reported third quarter results below expectations, including a large loss related to its stake in online coupon business, LivingSocial. Despite a 27% increase in Q3 sales Amazon the company's investment programme cancelled out US$13.8 billion of sales. Amazon posted a loss of US$274 million, down from earnings of US$63 million a year earlier.

29/10/2012  |  Full story...

Most Daily Deal customers ‘remain loyal to brand after deal’

The majority (91%) of customers that use a brand via a daily deal site such as Groupon have returned for more business, or are planning to do so, according to new research. While there has been some argument about the impact of daily deal offers on new business, according to the ForeSee survey, daily deal offers do increase business awareness, purchases, and repeat purchases.

06/03/2012  |  Full story...

Daily deals sites: Groupon sales outpacing rivals

Groupon outperformed its rivals in November 2011 in the US, increasing revenue while its closest competitors posted declines, according to a new report. The study, from deals aggregator Yipit, found that Chicago-based Groupon's overall billings from its online daily deals rose 6% from October. The figure is triple the 2% increase in the overall November billings for the industry in North America.

05/01/2012  |  Full story...

Paypal takes on Groupon with daily deal coupons

Online payment service Paypal is to enter to increasingly lucrative discount coupon market, taking on the likes of Groupon and Living Social in the process. The eBay-owned business is aiming to launch the service in the US before April 2012. Speaking to news agency Bloomberg, Paypal's president, Scott Thompson, said the firm would use its knowledge of its 103 million members' past purchases to tailor offers.

15/12/2011  |  Full story...

LivingSocial ‘to raise $200m’ to rival Groupon

Groupon rival LivingSocial is getting ready to announce a massive $200m funding round that will value the startup at more than $5bn, according to a news report. The New York Times reports that the deal is expected to close next week, and will include both old and new investors. In December 2010, Amazon.com invested $175 million in LivingSocial, an investment that came as Google was considering buying Groupon.

23/11/2011

23/11/2011  |  Full story...

Groupon to delay September IPO?

Groupon is considering a delay to its long-awaited initial public offering, amid turmoil in the US economy. The online voucher firm had hoped to go public by the end of this month, but is studying market conditions and may push back the timing of the offering. A source told the Wall Street Journal that stock market volatility has convinced the company to postpone its IPO. The person clarified that Groupon isn’t pulling its IPO, but simply pushing it back. Other reports are saying that the delay is indefinite.

08/09/2011

08/09/2011  |  Full story...

Facebook ditches 'Deals' scheme after four months

Facebook has ended its Deals program just four months after launch, but is keeping its 'check-in' deals scheme, the company has announced. Facebook Deals was launched in April and offered online bargains based on group buying over a short time period, in a similar manner to Groupon and LivingSocial.

30/08/2011

30/08/2011  |  Full story...

LivingSocial raises $400m to take on Groupon

LivingSocial has raised $400 million to fund expansion, as the US online coupon seller looks to take on its larger rival Groupon. The investment round, led by current investors Amazon and Lightspeed Venture Partners, and new ones like Institutional Venture Partners, valued the company at about $3 billion. LivingSocial has been growing at an exceptionally rapid pace in recent months that closely mirrors the early growth of Groupon. Reports indicate the company is on track to generate US$1-billion in revenue this year, fully double the annual revenues it projected to make in 2011 just four months ago.

07/04/2011

07/04/2011

LivingSocial buys Letsbonus, expands to 25 new countries

Social commerce sites LivingSocial has acquired a majority stake in LetsBonus, one of the original European social shopping sites. The partnership bolsters LivingSocial’s rapid international expansion, making it now live in ten countries with the addition of LetsBonus’ Spain, Italy, Portugal, Argentina and Mexico presences. LivingSocial now has more than 16 million subscribers, is live in more than 170 markets, and is projected to book in excess of $500 million in revenue in 2011.

14/01/2011  |  Full story...

Amazon takes on Groupon by investing $175m in rival Living Social

Amazon has invested $175m (£112m) in Living Social, a rival to popular deals site Groupon. Living Social plans to use the cash injection to strengthen its positioning in more locations.

At present it has 10 million subscribers in the UK, Ireland, US, Canada and Australia and says it expects to turnover $500 million (£320 million) in revenue next year. Living Social has also secured a further $8 million (£5 million) from Lightspeed Venture Partners. The investment by Amazon comes as Google looks close to securing a deal to acquire rival deals site Groupon.

06/12/2010

06/12/2010  |  Full story...

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