More bad news for leading Groupon (GRPN +5.7%) rival LivingSocial: the company has shuttered...


More bad news for leading Groupon (GRPN +5.7%) rival LivingSocial: the company has shuttered both its NYC office and local events unit in an effort to pare costs. The moves come a month after the company closed its Seattle office and requested employees work remotely. LivingSocial, 29%-owned by Amazon (AMZN), posted a $50M net loss in Q1 to go with revenue of $135M (+23% Y/Y).
From other sites
Comments (1)
  • ReligiousWacko
    , contributor
    Comments (1812) | Send Message
     
    By shutting down, this will prevent more losses. Therefore, good news for AMZN! Just doing my best Gary impression.
    17 Jul 2013, 04:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs