Chicago based Groupon, an online dealapalooza that sells discount vouchers to your favorite hot spots around town, housewares and more is set to acquire other deal giant LivingSocial.
If it’s any indicator of how fast LivingSocial has fallen, Groupon said the cost of the acquisition is “not material.”. Groupon’s investors are not so sure about this deal, as their stocks fell 7% in after-market trading.
Groupon plans to acquire 1 million new customers and retain 180 LivingSocial employees. It is unclear right now if this is LivingSocial’s entire staff. It’s unknown right now if LivingSocial will retain their brand.
What do you think? Do you use both sites? Do you think the two together will be bigger and better?
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