Living Social Financials Could Spell Trouble for Groupon
Living Social Financials Could Spell Trouble for Groupon
Posted 04/15/2011 at 3:05pm
| by Ryan Whitwam
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The more we hear about Living Social's meteoric rise, the more we think Groupon should have taken that Google buyout offer. In the process of acquiring a company called SocialMedia, Living Social disclosed some financial data to value the shares they were handing over in the deal. According to the disclosure, Living Social is valued at $2.9 billion, and sees $50 million in monthly revenue.
Groupon is currently pulling in about $100 million per month, but they gap has narrowed considerably. Living Social just started getting people's attention a few months back when the Amazon gift card deal was offered. Since then, Living Social has been piling up users and positive buzz. Meanwhile, Groupon is faltering a bit.
What this tells us is that the Groupon model is not unique. Any number of companies can come along and do it better. Do you use either of these services? Any complaints?
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lordmidnight
April 15, 2011 at 7:24pm
My wife likes LivingSocial, and she uses Groupon when she has to, but she said she doesn't like it. Me, I don't have any money. I just work all day.
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