LivingSocial PulseCheck: Company Goes AntiSocial
This is part of an ongoing series monitoring the fluctuating pulse of D.C.'s very own online coupon company, LivingSocial.
LivingSocial just got a whole lot less social. The D.C.-based online coupon company announced today that it would no longer host live events at its 918 F Street NW venue or in cities around the country.
The company said in a release that these events are "no longer core to our strategy of being a marketing partner for merchants."
LivingSocial's announcement that it would stop hosting events was buried at the bottom of a press release delivering its preliminary 2013 financial results. The company posted a net loss of nearly $200 million, and attributed much of its fourth-quarter $82 million loss to costs related to the sale of a South Korean business.
The company brought in $399 million of revenue in fiscal year 2013, and in all, the year's results marked an improvement over the struggling company's $650 million net loss in 2012.
And the best part about today's LivingSocial news: The company will no longer get in trouble for hosting offensive parties.
Photo by Darrow Montgomery