Groupon Buys Livingsocial -

The purchase occurred as the craze for daily deal vouchers—which had once seen LivingSocial valued at nearly $6 billion —began to fade. The Decline of a "Unicorn"

Groupon sought to absorb LivingSocial’s approximately 1 million active customers to expand its reach and consolidate the shrinking market. groupon buys livingsocial

In October 2016, the "daily deals" pioneer acquired its long-time rival LivingSocial , marking the end of a fierce era of competition in the social-buying space. The Deal at a Glance The purchase occurred as the craze for daily

The acquisition cost was described as "not material," meaning it was small enough that Groupon was not required to disclose the exact figure in its financial reports. groupon buys livingsocial