Startups Archives - Page 61 of 144

Canadian Startup: Student U Is Building Student Communities INTERVIEW

When Facebook exploded into global social network domination by opening it’s gates to those that were not college students, a gaping hole was created in the social space. A few startups have begun trying to fill the hole for the “student social network”. One of those startups is Canadian startup Student U.

At it’s roots, Student U is a new social network for students. Through their app you can make no friends, chat, share pics, manage multiple profiles and much more. Checkout out their website you’ll see that Student U is part social network, part student portfolio and part student dating site. The founders have put a big emphasis on flirting and dating.

Once the user begins engaging with the Student U platform they can “give presents”, “share emotions” and “fall in love”

Student U also went mobile first the right way and introduced an iOS app, Android app and a Windows Phone app all at the same time. Naturally, students are using the smartphone as their key to the internet a lot more than any other device so it’s fitting to have a three fold mobile strategy.

We got a chance to interview StudentU take a look at the interview below

Memphis Social Entrepreneur Sarah Petschonek Takes Volunteer Experience Nationwide

30 Year old Memphian, Sarah Petschonek left her Nashville job in September of this year to return home to Memphis, Tennessee. Petschonek who has a socially motivated work background and a PhD, wanted to find a more impactful and meaningful path for her life.

Being a lifelong volunteer since childhood, and with the support of her family and closest friends, she did the most logical thing and went back to volunteering. This time around it would be different though — a mission.

For the entire month of November, including today, Petschonek worked each day, every day at a different volunteer organization. She blogged about each day of her journey on her website at confessionsofavolunteer.com.

Along the way she volunteered helping children, senior citizens, homeless people, urban farmers, students and more. When local CBS affiliate, News Channel 3 caught up with Petschonek she was volunteering for SAVE an organization that provides vision services for students.

“Each time you volunteer you generate a ripple effect across the community and you create positive change in the world. You don’t have to be perfect in order to be the perfect volunteer. Whatever your talents and interests, you have the potential to inspire yourself and everyone around you!” Petschonek said.

Her volunteer days go back 22 years to when she was 8 years old. Her and her two siblings would pull a wagon around Jacksonville Florida, passing out fliers and collecting food for the needy.

With this 30 day stint coming to an end, Petschonek has decided to do the next logical thing and take her volunteer experience across the country. She will begin the next leg of her journey in Portland, Oregon and travel to Boise, Salt Lake City, Kansas City, St. Louis, Nashville, Atlanta and back to Jacksonville to rekindle the youthful social entrepreneur that started this all.

Petschonek’s Memphis journey yielded media coverage from the prominent local media outlets. Her blog is already averaging 30,000muv. All Petschonek hopes to do is inspire people to donate just one hour of their time, whether it be once a week, or once a month to whatever cause they can relate to. The results are already amazing including a local law firm giving 10% of their revenues to the local food bank and many others giving personally with time, money, and resources.

Petschonek has launched an indiegogo campaign at indiegogo.com/volunteerbound to help fund the nationwide expedition. While she realizes that a journey like this may be more comfortable in the summer months, winter time is when people, and volunteer organizations need the most help.

People can stay up to date with Petschonek’s nationwide adventure at her blog site confessionsofavolunteer.com and contribute to her journey through links on that page or directly at indiegogo.com/volunteerbound.

Linkage:

Check out Sarah’s blog here

Support her on indiegogo here

No one covers startups in the southeast like nibletz.com

Sarah Petschonek will be here, will you?

Los Angeles Startup: Upperatus Is Making A Difference With T-Shirts INTERVIEW

Yesterday we brought you the story about Utah based startup HeadCase who is trying to make a social difference with their unique, premium headphones. Today we’re turning to Los Angeles and social entrepreneur Jeff Kudlishevich and his LA startup Upperatus.

Kudlishevich’s startup, with a really cool name, is taking uniquely designed t-shirts, pairing them up for social causes, injecting celebrity spokespeople and donating a portion to charity. We’re not talking about 50 cents or a dollar, no that’s all been done before. Upperatus builds in $11 of each t-shirt sold to the paired up non profit organization.

This month Upperatus has teamed up with classical singer Nathan Pacheco and artist Dan Mccauley to donate $11 per shirt sold to Save The Bay (The Santa Monica Bay for those of you keeping track).

The Upperatus site describes this month’s charity below:

The Santa Monica Bay is the centerpiece of Los Angeles’ beach culture, and the geographic center of the LA region. Stretching from Malibu to Palos Verdes, the bay is where millions of Angelenos relax and work. Because of their economic, ecological and recreational value, our waterways and the ocean are critical resources worth protecting.

Santa Monica Bay beaches average 45 million visits per year

The Bay generates more than $1 billion in visitor spending annually.

Tourism accounts for more than 500,000 jobs in the greater L.A. area

The population of Los Angeles has skyrocketed in the past 100 years and it’s putting a lot of pressure on our environment. In the mid 1980s, improperly treated sewage led to dead zones in the Bay and harmful water quality. Thanks to the efforts of Heal the Bay and its supporters, the EPA mandated stricter sewage treatment processes, resulting in greatly improved water quality.

Despite the amazing gains, your Bay faces ongoing challenges, from marine debris to overfishing. The good news is that you can help protect our beaches and oceans. And remember, watersheds connect you to ocean, no matter if you live on the coast or 60 miles inland.

If you haven’t noticed, with the holidays upon us we’re featuring more social entrepreneurs. Upperatus is another great way for the slacktivists to get involved, and you get a cool shirt in the process. What makes Upperatus even better is that they’re changing the shirts and the causes every month so you aren’t stuck with the same shirt and your money going to the same cause.

We got a chance to interview Kudishevich. Check out the interview below.

St.Louis Startup LockerDome Adds 19 Year VC Veteran Mark Lewis As CFO

News keeps pouring out from our friends at St. Louis startup LockerDome. Earlier this week the largest sports social network startup in the world announced that they had just partnered for the release of the first app/game built on the LockerDome platform. Thursday the team at LockerDome announced a new addition in 19 year venture capital veteran Mark Lewis, joining the team as CFO.

Lewis’ venture capital experience includes working with Gateway Associates and Two River Associates from 1998 to 2006. Most recently Lewis spent the last six years as a principal at Advantage Capital Partners, one of the nations leading venture capital firms with over $1.3 billion in invested capital.

While LockerDome founder and CEO Gabe Lozano is no beginner when it comes to startup and entrepreneurism, adding Lewis to the team brings a plethora of welcomed experience.

“As we continue to invest in the team’s growth, we are thrilled that someone of Mark’s stature, energy and talent will lead LockerDome’s efforts toward securing an even brighter financial future for the company,” Lozano said in a statement. “Under Mark’s financial leadership we will continue to build on the momentum the company has had this year in amassing over 1,300 properties and 2.5 million monthly unique visitors since January.”

“Joining a visionary leader such as Gabe Lozano to help build LockerDome into the premier interest-specific social media platform is an incredible opportunity. I am quite excited by the prospect of sustaining and managing LockerDome’s explosive growth,” said Mark Lewis, LockerDome’s new CFO “I look forward to securing a strong financial future to execute Gabe’s vision and LockerDome’s brand.”

LockerDome is a sports social network that allows anyone at any level in sports to join, create a profile and interact with others. From school age leagues to the pro’s, a wide variety of athletes make up the LockerDome social network. Hundreds of thousands of sports fans have also joined the network to keep up with their favorite sports stars, teams and even media sites.

Linkage:

LockerDome is here

More St. Louis startup coverage is here at nibletz.

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Richmond Startup: Lending Clouds, Legally Crowdfunding Startups NOW!

One of the biggest steps in supporting startups in 2012 was the passing of the JOBS Act. The act itself was passed earlier this year and then turned over to the Security and Exchange Commission (SEC), to develop regulations. The JOBS Act is the legislation that will eventually make it possible to use crowdfunding sites, similar to how Kickstarter functions, to sell off micr0-equity stakes in companies up to $1 million dollars.

The SEC had originally announced that they would be done setting up the regulations back in July, however that was quickly moved to January of 2013. At this time it’s unclear as to when crowdfunding for equity in startups will officially start.

Several “crowdfunding” startups have launched. Others have launched websites with beta invites and LaunchRock’s in preparation for when they’ll truly be able to crowdfund for equity. Other sites have set up the ability to support startup companies with mico investments in exchange for “perks” like t-shirts, swags and hardware samples.

Barry Rickert, a 40 year veteran in the private equity field, has used his vast knowledge and experience, along with the law, to side step the JOBS Act and create a way to fund startups now.

His Richmond startup, Lendingclouds, is going to give back royalties instead of equity and to get that you need to join the sites “club”.

The combination of royalty based small business financing offers no debt and no personal guarantees to small business that need capital to grow, while at the same time giving investors access to high yield investments that pay immediate income. It’s really quite ingenious. The members only, online Crowdfunding Investment store brings together entrepreneurs and investors in a unique manner designed to benefit both. The funding group provides exclusive investment opportunities to members who bring as little as $100 to the table. Lending Clouds does this by accepting applications from entrepreneurs, which once approved, are offered to investors.

Investor members participate in what is known as crowdfunding. Rickert’s form of crowdfunding is focused on pooling resources to invest funds in new businesses, products and ideas that provide royalty based returns. Members are able to spread their funds amongst many different investments, which lessens their risk. Returns of 25%+ are expected on successful ventures. In 20 years, this can result in a $5,000 investment paying $1 million.

“We’re looking forward to working we people who have never invested before,” says Lending Clouds President, Barry Rickert, “and who may have a few hundred dollars or more to put towards various projects and products. There are a few unique aspects to Lending Clouds and crowdfunding, which makes us especially attractive to investors and entrepreneurs.” Rickert adds, “Unlike the stock market, investors don’t need a lot of money, and they start to see payments come back to them within 60 to 90 days.”

Members have access to exclusive listings posted on the Lending Clouds online store. They may read through the various opportunities and decide to put money in one or more projects. Once all funding is in place, an Investment Club is created as the vehicle for making the group investment. The club money is released to the user/grantee (entrepreneur) in return for a royalty agreement that details the product or service to be sold and the royalty to be paid over the term of the agreement. Investors start to receive payments as per the agreement between the user/grantee and grantor/investor usually within 30-90 days.

Rickert notes, “The opportunities we are providing investors with are easier to understand than stock offerings, with terms explicitly stated. Our investment opportunities are for expansion and growth with entities that are already established and familiar to our investors. This also helps to lessen risk.” He observes, “Grantees are looking for as little as $25,000 and as much as $2 million, with the average fund being capitalized at about $100,000. An investor can put as little as $100 into a fund.”

As part of Rickert’s lean startup strategy, he is giving away a significant number of $100 credits to new members, with no strings attached. About the only catch (if you can call it a catch) is that investors must pick an investment that gets funded. However, if it doesn’t, they’re free to use the funds to pick another investment. Rickert also states that while the offerings are very small today, he has some million dollar deals in the pipeline.

While hundreds of crowdfunding sites popped up the minute the JOBS Act was officially passed, Lending Clouds is not a flash in the pain, or a scam. Rickert has decades of experience in the field and has come up with the quickest, easiest and most legal way to start using crowdfunding mechanics to invest now, not when the SEC is ready.

Linkage:

Go see for yourself at lendingclouds.com

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Denmark Startup: MindTeacher Brings Daily Deals To Online Courses

Now that Groupon and LivingSocial have cornered the market for generalized, localized daily deals, we’re starting to see siloed startups across the globe create daily deals sites for other verticals. For example Paris startup LimeApp is a daily deals site specifically for online services.

A new Denmark startup, MindTeacher, is bringing the daily deals platform to online course offerings.

MindTeacher is connecting their users to classes for personal development. Whether you want to learn a language, a computer skill or even how to cook, you know you can find those classes online. However, there are 100s of websites to look towards for every different type of class. Also, there isn’t a site out there, yet, that’s offering classes at discounted rates. That’s what MindTeacher does.

MindTeacher is serving both the teachers and the students. For the teachers, MindTeacher is available to help them sell, or sell out online courses that need a little extra push. For students, it helps them find classes at more affordable rates. Using MindTeacher’s deal platform a student that could only afford one class may now be able to afford more.

We got a chance to talk with the people behind MindTeacher. Check out our interview below:

Official: DC Startup Living Social Lays Off 400

We reported early this morning that Washington DC based daily deals starutp Living Social was planning on laying off 400 people. That came to fruition later this morning and was announced by company spokesperson Andrew Weinstein.

Weinstein confirmed all 400 layoffs and said that they were spread across sales, editorial and customer service. They are also looking to streamline all of their operations and with that they are centralizing customer service to an office in Tuscon Arizona. Customer service jobs that were based at the companies DC offices are either being cut or moved to Tuscon. There may be some job openings at the Tuscon customer service office later on.

This may not bode will for Living Social who just received a major tax break from the DC government. Under the deal for the $32.5 million dollar tax break, LivingSocial is supposed to move to a massive, centralized headquarters and keep 1000 employees in DC.

Living Social is also trying to calm the editorial and social swell from the announcement. Many journalists, bloggers and investors in daily deals, are starting to worry that the once hot space is “over”. Weinstein told CNN “We think this actually puts us on the right path for long-term growth and profitability,”

Groupon, Living Social’s biggest rival and the big winner in the daily deals space, is going through turmoil themselves. It’s been widely rumored that the board of directors at Groupon is looking to replace CEO Andrew Mason. Their stock has performed dismally since going public and there has been a lot of executive turnover at their Chicago headquarters.

To add to LivingSocial’s problems, a month ago Amazon reported a $169 million dollar write down on it’s $175 million dollar investment in LivingSocial.

Linkage:

Livingsocial is here

Earlier story from nibletz is here

Startup News from “everywhere else” is here

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Love The Next Place You Live, Find It With NY Startup YourNeighborhood

Two New York area entrepreneurs, Eric Levy and Andrew Curtis want you to love the next place you live. They are unveiling their New York based real estate startup, YourNeighborhood next week as a beta in New York City.

Sure there are plenty of apartment locator startups out there. There are also startups like BlockAvenue that help you research neighborhoods, their culture and heritage. YourNeighborhood is bringing it all together in a one stop shop platform for those looking for the next place to live.

Apartment finding websites are a dime a dozen. The typical experience includes seeing floor plans, apartment rules, and amenities. You may also learn about the pool, the fitness facility and the community room, but outside the confines of the apartment building or community, you’re on your own.

Are you into coffee shops and co-working? Are you looking for a pick up basketball court, tennis court or some frisbee golf? Do you like to take in local music every night, and play an occasional game of darts?

As many of us know, and many of us have experienced, you can find the golden apartment with stainless steel appliances and a marble kitchen island, and then be stuck for a year or more with nothing else to do. No one wants to come home from work after a long day and then need to take the subway or 8 busses to catch a game with the guys at the local sports bar.

A typical apartment site isn’t going to tell you all of these things, after all they just want you to sign up, lease an apartment and make their commission. Was there a wave of purse snatchings between the apartment building in the subway stop? These are things you need to know, that you can find out now in one location, yourneighborhood.co.

All of this is solved with the YourNeighborhood platform.

In addition to selecting criteria for your next apartment, and neighborhood, Levy and Curtis are adding forums, and bulletin boards so users can interact with other users and folks that have already moved to the neighborhood.

Moving is about much more than your next apartment, it’s about your neighborhood and that’s what Levy and Curtis are bringing users with their new startup.

Linkage:

YourNeighborhood can be found here

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Utah Startup: HeadCase Fighting Global Poverty With Head Phones?

Joshua Fairbairn and his team of co-founders at Utah startup HeadCase have a lofty goal. They are going to contribute to the fight against world poverty by selling headphones. Of course selling products and tying them into charities is nothing new, however Fairbairn is trying to put a new spin on the concept, launching their “premium” headphones with a direct tie in to a different charity with each model.

The company is calling their philanthropic headphone campaign #MoreThanMusic.

On the social side of things HeadCase is using the slacktivist model to donate health kits to children in need, shoes, aftercare for victims of human trafficking, vaccinations for Polio and pumps for farmers in Kenya.

On the headphone side of things, the HeadCase headphones come in a variety of colors. The company also boasts that they are durable, stylish and lightweight. Best of all the 50mm speaker drivers used in every pair of headphones are built at the same factory as Senheiser and Dre Beats.

Combine the two and you have a recipe for sound social entrepreneurship.

The charities that HeadCase has aligned themselves with are; One Day’s Wages, Soles4Souls, The Global Poverty Project, Free The Children and The Adventure Project.

Elyakim Samuel (CEO), and Samantha Bruandet (CFO) round out the founding team of socially conscious entrepreneurs.

We got a chance to interview Fairbairn, check out our interview below.

Memphis’ Eric Mathews: What!! You Want Us To Just Find You A Technical Co-Founder?

One of my favorite interviews with TechStars co-founder David Cohen, is when he is being interviewed by a woman who’s asking great questions. They get into talking and Cohen says something to the effect of, “ya know that startup, that one where all these great ideas are listed and people can just buy them”, the interviewer plays into the question and Cohen says “me neither, because the startup hasn’t been made, ideas are worthless without execution”.

That same idea plays into a blog post written recently by Launch Memphis CEO and Co-President, Eric Mathews about a problem that he, and several other startup community leaders face every day, “Can you find me a technical co-founder”.

Mathews and his Launch Your City organization are responsible for running Emerge Memphis (the local incubator), Launch Memphis (startup initiatives including curriculum, support, and a free coworking space) and Seed Hatchery the cohort based Memphis accelerator.

With that wide range hats on Mathews and the other Launch Your City staff get the “can you find me a technical co-founder” question a lot. In his blog post he explains a much better way of securing technical talent.

Many people walk in our doors with ideas they believe will change the world and make them rich. The problem they invariably have is that they can’t build it. 95% of these potential founders have an idea for an mobile app or web app and they want the LaunchYourCity team to play matchmaker to a developer. These potential founders don’t realize that the developer probably has his own awesome ideas. Why would he switch from developing his ideas to developing yours? These potential founders will get no where fast with developers because they have ignored the obvious: a developer is your first investor.

Like all investments you need to earn the right to ask!

Here is the typical scenario. A non-technical founder approaches a potential technical co-founder with just an idea. These potential founders usually have very little skin in the game. They haven’t invested a ton of their own time, but expect a developer to contribute 100s of hours. They haven’t even dipped into their own funds to get something mocked up or designed. These potential founders have not invested energy into determining who the customer is, understanding their buying behaviors, or even determine if they would want the app and pay for it. The outcome is always the same. The developer says no and gets annoyed with wannabe entrepreneurs and gets turned off to the startup world.

This is a very bad outcome for our entire community. It could all be avoided.

Imagine going to a technical co-founder and saying the following:

“I have been working to validate an idea for a new app over the past couple of weeks. I didn’t know if this was a good idea so I talked to 50 customers and found out that not only was it good, but also determined what the minimum features would be to satisfy the customer. Because I wanted to continue to make progress, I taught myself to code a little bit.

“With a logo that I paid a local designer to polish up for me, I was able to get a one page website up and running articulating the features of the future app. I also was able to code the website to capture email addresses from future customers. I created a blog to talk about the industry and my perspective on the changes coming. I got a lot of feedback and interest from the blog — one post has been viewed 10,000 times and has 56 comments.

Continue reading here

Heading to Memphis for this? You should be!

Louisville Startup: Kodable Teaching Kids 5 And Up How To Code

When you start talking to technical co-founders of today’s startups, most of them talk about how they’ve been coding in some form or another since they were little kids. Such is the case for Jon Mattingly the co-founder of Louisville startup SurfScore and their newest product Kodable. Mattingly started “fiddling” with computers at the age of 6, and now he and cofounder Grechen Huebner are setting out to teach a new breed of grade school kids how to code.

Kodable is a new iPad game that teaches kids aged five and up how to code. This is taught by teaching the fundamentals of programming and problem solving in a fun way. Kids are learning these fundamentals without even realizing it.

“It introduces the basic concepts of programming, including conditionals, loops and functions, in an abstract way simple enough for young children to understand. Kids give the characters, called fuzzes, commands that guide them through a maze. This challenges children to think through a problem in multiple ways before deciding on a solution, then rewards them for choosing the most efficient path.” Huebner told us in an interview.

There’s a variety of software out there now that teaches even younger children the fundamentals of reading. Huebner and Mattingly thought that if those skills could be learned at an early age, programming could be taught the same way. Mattingly credits Hubener’s artistic ability with actually making these skills fun to learn and easy to understand.

Check out the rest of our interview with the SurfScore/Kodable team below.

Startup America Stage Headed To International CES

The Startup America partnership has done a phenomenal job of promoting startups across the United States at key events throughout the year. Last year they had an entire area at the Hilton Hotel for startups as part of SXSW. They also partnered with Startup Rockon to bring equally amazing programming to stages at the Republican and Democratic National Conventions.

Continuing with that theme, Startup America has teamed up with the Consumer Electronics Association to bring the Startup America Stage to Eureka Park at the International CES. The International CES is the largest consumer electronics trade show on the western hemisphere and is happening January 8-11th in Las Vegas.

The Startup America stage will be part of CES’ startup pavilion called Eureka Park, which is housed at the Venetian Hotel and easily accessible via a free shuttle from the Las Vegas Convention Center.

“Innovation defines the International CES and we are thrilled to partner with Startup America to bring programming that highlights the young start-ups and entrepreneurs who will shape the future of technology,” said Gary Shapiro, president and CEO, CEA. “We look forward to the exciting sessions on the Startup America Stage at the 2013 CES shining a light on the companies and innovations of tomorrow.”

“Eureka Park will be home to some of the most cutting-edge startups from across the country this year at the 2013 CES,” said Scott Case, CEO of the Startup America Partnership. “We’re incredibly excited to bring together startups, investors, large companies and media to highlight the amazing innovations taking place at this world-class event.”

Innovation is a major theme, this and every year at CES however the past few years they’ve added an exhibit area for startups. Last year Eureka Park was packed. CEA is able to attract startups with lower cost both space, provided they meet the criteria.

CEA has also announced that Eureka Park is 40% bigger this year, adding even more startups and innovation to the mix.

The Startup America stage will feature panels, keynotes, and Q&A’s from top speakers in the entrepreneurial and startup ecosystem across the country.

Linkage:

For more on the International CES visit here

For more on Startup America visit here

Startup America is also part of this, the largest startup conference in the US

UK Startup: Spacehive Brings Civic Crowdfunding Across The Pond

As crowdfunding continues to grow in popularity, we’ve seen more and more “civic” crowdfunding sites pop up in the United States. Back in August we brought you an interview with Kansas City startup neighbor.ly and also during the summer we reported on Tampa startup Citizinvestor.

Now our friends across the pond in the UK are getting into the civic crowdfunding space. UK startup Spacehive is offering people in the UK the opportunity to crowdfund civic minded projects. These can include anything from planting a garden, to developing an open neighborhood wifi.

Crowdfunding was sparked and started in the United States with sites like Indiegogo and Kickstarter. In the UK there are already sites crowdfunding startups, like our good friends at Up And Funding. The civic crowdfunding space is new for them though.

Crowdfunding typically exists in two models. There’s an all or nothing model, where the crowd has a goal to raise and projects are funded once all of the money is raised. Other sites like Indiegogo allow people to raise money for projects but every dime goes to the project’s founder regardless of whether or not they hit their goal.

With Spacehive it’s the all or nothing model. Someone with a civic project will go online to their site. Once they create the project and the project is approved by Spacehive, they are free to raise money to their goal. The funds for the project will only be released once the goal is hit giving backers a little more piece of mind that the money is going to what it’s intended for.

We got a chance to talk with the team from Spacehive, about their civic crowdfunding platform and their cool name. Check out the interview below.

Rumored: DC Startup Living Social To Lay Off 400 Later Today

Several startup and tech sites are reporting that Washington DC daily deals startup, Living Social will lay off as many as 400 people later today (Thursday). The Washington DC Business Journal is credited with starting the rumor based on sources “with knowledge of the daily deal giant’s plans”

The news was escalated Wednesday when Pando Daily founder Sarah Lacy tweeted out a link to a short news brief on her site about the possible layoffs.

As early as two months ago at The Brandery’s demo day, Living Social CEO and Co-Founder Tim O’Shaughnessy led no one to believe that the company was in this much trouble. O’Shaughnessy was the keynote speaker at the branding focused accelerators investor event.

According to The Business Journal, the cuts are supposed to affect several of the company’s nationwide offices, including headquarters in DC which is spread across six offices downtown.

The layoffs may cause even more trouble, as Living Social just won a $32.5 million dollar tax break from the DC government, contingent on opening a 200,000 square foot centralized headquarters and maintaining a headcount of over 1,000. The company last reported 4500 employees globally, and while the 400 layoffs alone wouldn’t seem to affect that tax break, the question lays on what else happens with the company.

Living Social isn’t the only daily deals company that’s having problems. It’s been widely rumored, and some say leaked, that rival Groupon’s CEO Andrew Mason may be ousted by his board of directors. Groupon has struggled since going public, despite the fact that they are still making money.

Living Social suffered a net loss of $566 million in the third quarter. Much of that was in the form of a $496 million dollar write down of some of it’s 2011 acquisitions. Revenue also slipped from $138 million dollars in the second quarter to $124 million in the third.

Linkage:

LivingSocial on the web

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