Entries in LivingSocial (3)


New Investment Round Delays LivingSocial IPO

ASTRID RIECKEN For The Washington Post(WASHINGTON) -- Plans for the online daily deal provider LivingSocial Inc. to go public may be put on hold for the near future.  The company is now planning to raise up to $400 million in new securities offerings, according to The Wall Street Journal.

LivingSocial will likely use the funds for its current operations and expansion.

With the investment round valuing the company at around $6 billion, the #2 deals company behind the recently public Groupon Inc. already has $176 million in secured funds from current and new investors, a source told The Wall Street Journal.

Current investors, according to WSJ, include online retailer Amazon, Institutional Venture Partners, Lightspeed Venture Partners, Grotech Ventures and former AOL exec Steve Case.

Copyright 2011 ABC News Radio


More Shoppers Going Online for Holiday Deals

Ryan McVay/Thinkstock(NEW YORK) -- What's your shopping strategy for the holidays?  A new survey finds more than ever consumers are likely to search daily deal websites for discounts.

Registrations for bargain sites like Groupon, Living Social and Gilt Groupe are going up, and users are beginning to branch out.

"Those same people who are most likely to be on those have memberships to four or five of them not just one," says Ray Florio, who studies shoppers' behavior at Accenture Consulting.  "They're actively looking in all these new forms of media for any discounts they can get."

And Florio says how consumers shop is also changing.

"Customers go into a store and they actually treat it more like a showroom than they are a place to buy something," he says.

Shoppers then go online and purchase the items they spotted in stores.

Copyright 2011 ABC News Radio


Facebook to Expand 'Deals' Discount Service in Coming Weeks

NICHOLAS KAMM/AFP/Getty Images(PALO ALTO, Calif.) -- Facebook is planning to expand its Deals program in an effort to challenge other group discount services such as Groupon and LivingSocial.

The service will be first tested in San Francisco, San Diego, Dallas, Atlanta and Austin, Texas, according to a statement from the social networking company.

Facebook said local business will soon be able to sign up for the site's new feature and customers can find Deals in coming weeks.

The Deals feature was originally introduced in November 2010 and is designed to work with Facebook Places, the site's location-based service which competes with similar "check-in" services like Foursquare and Yelp.

Copyright 2011 ABC News Radio

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