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"
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 groupon buys livingsocial
The deal was part of a larger streamlining effort by Groupon to exit dozens of international markets and focus its operations on a core group of countries. Groupon Buys Rival LivingSocial, Reports Another Loss - WSJ 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 Rival LivingSocial, Reports Another Loss -