August 30, 2014 4:55 AM ET

Internet Software and Services

Company Overview of LivingSocial, Inc.

Company Overview

LivingSocial, Inc. provides a local marketplace to buy and share the best things to do in client’s city. Its products and programs include local, escapes, shop, events, coupons, and at home. The company deals with restaurants, activities, sports and fitness, health and beauty, services, home goods, fashion, electronics, kids and pets, free coupons, and families. It energizes local commerce, and connects merchants and consumers around the world. The company was formerly known as Hungry Machine Inc. LivingSocial, Inc. was founded in 2007 and is based in Washington, D. C.

1445 New York Avenue NW

Suite 200

Washington, DC 20005

United States

Founded in 2007

Phone:

202-408-1745

Key Executives for LivingSocial, Inc.

Co-Founder and Chief Executive Officer
Co-Founder and Chief Technology Officer
Co-Founder and Chief Information Officer
Vice President of Finance and Treasurer
Chief Operations Officer
Age: 47
Compensation as of Fiscal Year 2014.

LivingSocial, Inc. Key Developments

LivingSocial Reports Earnings Results for the Second Quarter of 2014

LivingSocial reported earnings results for the second quarter of 2014. The company reported net loss of $11 million for April, May and June, compared with a net loss of $32 million during the same period last year. The company's revenue for the second quarter totaled $75 million, down from $98 million during the same period in 2013. The declining sales numbers reflect a company that is smaller than in years past, but, as executives assert, more focused on its core business of distributing deals and discounts.

LivingSocial Names Gautam Thakar as CEO and President

LivingSocial announced that Gautam Thakar will be joining the company as its new Chief Executive Officer and President. He will assume the role previously held by Tim O'Shaughnessy, who announced earlier 2014 his intention to step down. Thakar joins LivingSocial from eBay Inc., where he has spent over a decade in general management and leadership roles. As CEO of Shopping.com (an eBay acquisition), he drove the transformation to a data-driven, demand-generating advertising business, which he leads in his current role as GM for eBay's overall Advertising business. Previously, he served as the head of International Marketing for eBay and as country manager of eBay India. Thakar will transition to his new role by mid-August and O'Shaughnessy, one of the original founders of the company, will remain as an advisor to LivingSocial to assist with the transition.

LivingSocial Announces Steps Down of John Bax as Chief Financial Officer Effective at the End of July

LivingSocial announced that John Bax has prepared to leave the company after nearly four years as chief financial officer. Bax joined the company as chief financial officer in November 2010. His last day will be at the end of July.

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