LivingSocial Expands with Strategic Investment, Raises $130K with Holiday Promo
LivingSocial cut all of its ties with daily deal aggregators last week, but its expansion remains rapid. The Groupon competitor announced it has acquired a majority stake in Let’s Bounce, a European group buying site. This acquisition introduces LivingSocial to 25 new European markets across Spain, Italy, Portugal, as well as to Argentina and Mexico with a company total of 16 million subscribers.
“Additionally, Let’s Bonus’ discounted travel packages expand LivingSocial Escapes’ international presence, bringing more European vacation deals to LivingSocial subscribers.
In November, LivingSocial made a similar move to expand its footprint to Australia by investing $5 million in Australian group buying site JumpOnIt.com, in exchange for a majority stake in the company.”
Europe and Australia are not the only elements of LivingSocial’s expansion. The company announced today it’s expanding to 9 new markets in the U.S including Scottsdale, Ann Arbor, San Diego – North County, Boston – North Shore, Gainesville, Madison, Plano, TX and Snohomish County. It also offers some insight to their future plans, which will probably focus on the global market and particularly LivingSocial Escapes.
In addition to rapidly expanding, LivingSocial was also busy with its second annual 12 Days of Giving promo in which it donates one percent of its proceeds to various charities. In this follow-up to our previous coverage of LivingSocial’s charitable occasion, SiliconANGLE revealed that the second annual 12 Days of Giving raised $130,000 for U.S. and International Charities, according to a fresh company announcement.
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