Post Tagged with: "LivingSocial"

LivingSocial Swings to Q1 Profit Following Ticket Monster Sale
/ April 25, 2014 4:22 pm
LivingSocial Swings to Q1 Profit Following Ticket Monster Sale

LivingSocial's sale of South Korea's Ticket Monster helped swing the DC-based online deals giant to a first-quarter profit, the company announced Friday. For the quarter ended March 31, LivingSocial reported net income of $177 million, compared with a net loss of $45 million for the same period in 2013. . Read More

Tim O’Shaughnessy to Depart as CEO of LivingSocial
/ January 10, 2014 5:33 pm
Tim O’Shaughnessy to Depart as CEO of LivingSocial

Tim O'Shaughnessy, the co-founder and CEO of daily deals giant LivingSocial, plans to depart the company later this year, he informed employees Friday morning. "We will start a search for a new CEO today and hope to fill the position in the first half of 2014 with a new CEO who can lead the company on the next stage of its adventure," O'Shaughnessy wrote in a letter. He will remain CEO until a new leader is installed. Read More

LivingSocial Inches Closer to Profitability in First Half of ’13
/ July 26, 2013 11:30 am
LivingSocial Inches Closer to Profitability in First Half of ’13

LivingSocial, the DC-based daily deals giant, inched closer to profitability in the first six months of this year, according to a new earnings report from minority-owner Amazon. The company posted a net loss of $81 million during the period, increasing revenue 9% to $264 million while cutting operating expenses nearly 20%. Tim O'Shaughnessy, the CEO of LivingSocial, had said earlier this year that he expected to turn a profit by the spring. Read More

WSJ: Grotech Ventures Raises $225 Million for New Fund
/ May 13, 2013 12:12 pm
WSJ: Grotech Ventures Raises $225 Million for New Fund

The Wall Street Journal reports that Grotech Ventures has announced $225 million in committed funds from existing and new investors for its eighth fund, Grotech Ventures II ("GV II"). . Read More

Bloomberg: LivingSocial Alerts 50 Million Customers of Cyber Attack
/ April 29, 2013 2:33 pm
Bloomberg: LivingSocial Alerts 50 Million Customers of Cyber Attack

Bloomberg reports that daily deals site LivingSocial Inc. has informed more than 50 million of its customers that they could have been subject to a cyber-attack, and the company is working together with law enforcement officials to look into the matter. . Read More

LivingSocial Co-Founder, CTO Aaron Batalion to Leave Company
/ April 1, 2013 3:26 pm
LivingSocial Co-Founder, CTO Aaron Batalion to Leave Company

Aaron Batalion, the co-founder and CTO of DC-based daily deals giant LivingSocial, has announced on his blog that he is leaving the company. "What an incredible journey it has been since June of 2007, when the four of us knew only our direction, but definitely not our destination," wrote Batalion. Read More

PrivCo Defends Scathing Report on LivingSocial Financing
/ February 25, 2013 11:14 am
PrivCo Defends Scathing Report on LivingSocial Financing

Financial research firm PrivCo is firmly standing behind its report last week that claimed LivingSocial was forced to accept a $110 million infusion of debt to avoid filing for bankruptcy within days. The report was hotly disputed on Friday by LivingSocial CEO Tim O'Shaughnessy, who claimed the financing came in the form of equity -- not debt -- and labeled some of the claims "straight of fiction." . Read More

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