Groupon Buys Livingsocial Info

LivingSocial's sale was a dramatic exit for a company that was once a tech darling. At its peak in 2011, it employed over 4,000 people and had raised nearly $1 billion in funding. However, by the time of the sale, its workforce had dwindled to roughly 200 employees through multiple rounds of layoffs.

Groupon sought to absorb LivingSocial’s approximately 1 million active customers to expand its reach and consolidate the shrinking market. groupon buys livingsocial

In October 2016, the "daily deals" pioneer acquired its long-time rival LivingSocial , marking the end of a fierce era of competition in the social-buying space. The Deal at a Glance LivingSocial's sale was a dramatic exit for a