LivingSocial CEO Says Has No Reason To Go Public

REUTERS - June 21 - LivingSocial CEO Tim O'Shaughnessy said that LivingSocial has no immediate desire to go public and is learning lessons from the rocky public debuts of other hot tech companies. LivingSocial had been expected to follow Groupon that went public in Nov. LivingSocial lost $558M last year. New services launched in the last 18 months, including travel deals and a partnership with Amazon.com, now bring in ~25% of LivingSocial's revenue. Amazon owns ~30% of LivingSocial LivingSocial, with ~60M members, is second to Groupon in the online-deals market.

by Jasmin Melvin
See full article at Chicago Tribune

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