LiveDeal jumps and falls after unveiling new product

|About: Live Ventures (LIVE)|By:, SA News Editor

Shares of LiveDeal (LIVE -6.1%) jump and fall after a halt during which the company announced its previously-touted new product, a real-time daily deals website for restaurants.

The platform allows restaurateurs to publish deals at the time and duration of their choosing. It is an open question whether this differentiation and niche focus will be enough to penetrate a struggling daily deals market made up of much larger rivals like Groupon and LivingSocial and pressured by loyalty-based reservation platforms like OpenTable.

LiveDeal has signed 500 initial participating restaurants and is launching in San Diego. The company expects to roll out in additional cities by the end of 2013.