Groupon Inc's fourth quarter got off to a strong start in October as the largest daily deal company's growth outpaced that of its closest rival, LivingSocial, industry data tracker Yipit said on Thursday. ...
SAN FRANCISCO (Reuters) - Amazon.com Inc's first quarterly net loss in more than five years on Thursday highlights the trials of LivingSocial, Groupon Inc's closest rival in the daily deal industry. Amazon said its third-quarter net loss was $274 million, or 60 cents a share. The world's largest Internet retailer said $169 million of those losses were driven by an impairment charge from Amazon's 29 percent stake in LivingSocial. Amazon invested $175 million in LivingSocial in late 2010, at the height of the daily deal frenzy when sector leader Groupon was growing at record speed. ...
Nathan Barton submits:I'm compelled at my initial findings on this idea and wanted to share. As many of you know, there is a phenomenon known as Groupon that has been sweeping the nation and is now moving into other countries as well. For those unfamiliar, what Groupon does is negotiate one really great deal in your city each day at a huge discount (normally 30-90% off) and send it to you in a nice morning e-mail. These deals may be for local restaurants, spas, or fun activities.
As we enter the most deal-crazed time of year, daily deals sites such as Groupon and LivingSocial try to adapt to the changing marketplace — while facing the possibility that the original coupon model may one day soon be viewed as an odd, short-lived fad. The backlash against the once ultra-hot daily deal market began in force last year, with consumers and businesses both citing “Groupon remorse”—the catchphrase for the feeling that, in retrospect, the decision to purchase (or run) a daily deal was unwise. One year after Groupon’s IPO, its stock price is down more than 80%.
U.S. Secretary of Commerce Penny Pritzker joined President Barack Obama and the
U.S. delegation to the North American Leaders Summit in Toluca, Mexico. The
trilateral meeting between the Presidents of the United States and Mexico and
the Prime Minister of Canada is an opportunity for the three leaders to discuss
progress on a
range of issues impacting North America, including trade and investment,
economic competitiveness, and entrepreneurship.
By John Helzer:Below I have plotted the World Wide Semiconductor Billings(data from SIA) vs. the S&P 500. As one would expect they correlate fairly well.The arrows are the Economic Cycle Research Institute' public announcements on the business cycle's turning points.
SAN FRANCISCO (Reuters) - Marketing executive Barry Judge is moving from troubled retailer Best Buy Co to another struggling firm: daily deal provider LivingSocial. Judge will be the chief marketing officer at LivingSocial, the second-largest daily deal site behind Groupon Inc . He will oversee all aspects of marketing for the company, including advertising, brand management, social media, and communications, LivingSocial said on Tuesday. ...