Everyone has eyes on Groupon, but what is LivingSocial up to after pulling in $175 million from Amazon?
The American firm just picked up a majority stake in the Spanish LetsBonus and with that are making their jump to Europe:
"The partnership brings LivingSocial operations to a total of ten countries, with the addition of Let’s Bonus’ Spain, Italy, Portugal, Argentina and Mexico presences. Terms of the deal were not disclosed."
"LivingSocial says it now boasts more than 16 million subscribers, is live in more than 170 markets, and is projected to book in excess of $500 million in revenue in 2011."
LivingSocial wants to launch soon in Germany. For Berlin there is already a placeholder on the website for visitors with the corresponding IP address.
The question remains as to whom LivingSocial will bring on board to support the German operations. The pickings are slim here with probably DailyDeal in Berlin and Coole Deals in Munich being the most likely candidates.
LivingSocial differentiates themselves from Groupon with a strategy which focuses more on verticals:
"Last year, LivingSocial acquired adventure company Urban Escapes, and launched three new verticals including LivingSocial Escapes, a travel site that offers savings on curated adventures, LivingSocial Family Edition and Campus Deals.
In addition, LivingSocial has expanded its reach in Australia with a controlling stake in Jump On It."
Similar to Groupon which cocooned out of ThePoint, LivingSocial also needed a number of tries before settling down with the current business model.
Coole Deals, JumpEco and other Groupon alternatives will be at the Live Shopping Days 2011.
Related posts:
- Amazon Onboard with Groupon Clone Living Social for $175 Million
- Groupon Fever: LivingSocial Nabs Another $25 Million
- More Funding for Groupon-like Clones
Originally posted in German by Marcel Weiss and Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
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