January 19, 2014
LivingSocial’s outgoing CEO Tim O’Shaughnessy recently did an interview with Fortune Magazine’s senior editor-at-large Adam Lashinsky about the state of the business that he’ll be leaving as soon as the company finds a replacement. In the interview, he reveals some interesting stats about LivingSocial:
“This is a 4,000-plus-person company that did almost $400 million in revenue and about $1 billion in sales last year. The company has hundreds of millions in the bank,” says O’Shaughnessy.
As someone who remembers when LivingSocial was four guys building Facebook apps, it’s been incredible to watch LivingSocial’s ride. With the start of the new year, soon-to-be fresh leadership, and plenty of cash from the sale of TicketMonster to Groupon, everyone will be extra anxiously awaiting to see if LivingSocial can become a long-term sustainable company.
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