LivingSocial is a privately run social commerce company, whose group buying program invites nearly 24 million subscribers to save at the least 50% percent each day at nearby restaurants, spas, sporting events, hotels and other local attractions in more than 250 markets and in 12 countries worldwide. The international brand and social buying company is based in Washington, D.C.. LivingSocial is the fastest growing company in the group buying space, close behind Groupon as social commerce leader.
LivingSocial was founded as Hungry Machine in 2007 by 4 employees from Revolution Health. The company first gained notoriety for their Visual Bookshelf application on Facebook which allowed users to catalog and share their favorite books with friends. Later, the company released Pick Your 5 and other Polls applications, making LivingSocial the number one application developer on Facebook as measured by page views. LivingSocial launched a daily deals business, which since has become its highest grossing venture to date. The company released its first daily deal on July 27, 2009, for the restaurant Zengo in DC’s Chinatown. LivingSocial is a deal-of-the-day website and is a key competitor to market leader Groupon.
Most recently, LivingSocial completed a $400 million round of funding. Investors said the latest round values LivingSocial at $3 billion. The company is currently booking $1 million a day and is projected to book in excess of $500 million in revenue in 2011 and nearly double its market presence.
Amazon On January 19, 2010 LivingSocial ran a deal with Amazon, which offered LivingSocial subscribers a $20 Gift Card for just $10. The deal was available nationwide and attracted 1.4 million purchases.
Fandango On March 2, 2011 Living Social offered two tickets for $9 via Fandango’s ticket service for any movie; LivingSocial sold 1 million tickets in 2 days, 780,000 tickets on the first day alone.
LivingSocial was founded as Hungry Machine in 2007 by 4 employees from Revolution Health. The company first gained notoriety for their Visual Bookshelf application on Facebook which allowed users to catalog and share their favorite books with friends. Later, the company released Pick Your 5 and other Polls applications, making LivingSocial the number one application developer on Facebook as measured by page views. LivingSocial launched a daily deals business, which since has become its highest grossing venture to date. The company released its first daily deal on July 27, 2009, for the restaurant Zengo in DC’s Chinatown. LivingSocial is a deal-of-the-day website and is a key competitor to market leader Groupon.
Most recently, LivingSocial completed a $400 million round of funding. Investors said the latest round values LivingSocial at $3 billion. The company is currently booking $1 million a day and is projected to book in excess of $500 million in revenue in 2011 and nearly double its market presence.
Amazon On January 19, 2010 LivingSocial ran a deal with Amazon, which offered LivingSocial subscribers a $20 Gift Card for just $10. The deal was available nationwide and attracted 1.4 million purchases.
Fandango On March 2, 2011 Living Social offered two tickets for $9 via Fandango’s ticket service for any movie; LivingSocial sold 1 million tickets in 2 days, 780,000 tickets on the first day alone.
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