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October 09, 2015 5:03 PM ET

Internet Software and Services

Company Overview of LivingSocial, Inc.

Company Overview

LivingSocial, Inc. provides an online local marketplace to buy and share things to do in Darwin. It offers LivingSocial, an online community for people to organize their interests, browse the collections of their friends, and get recommendations around their interests. The company’s LivingSocial is used for deals and discounts on the best things to do ranging from restaurants and family outings to personal fitness, spa indulgences, and more; travel packages and guided adventures to destinations across the street and around the world; sports, music, theater, and outings; offers, services, and design advices for homes; and promotion codes, digital coupons, and information on sales from online ...

1445 New York Avenue NW

Suite 200

Washington, DC 20005

United States

Founded in 2007





Key Executives for LivingSocial, Inc.

President of the Board of Directors, Chief Executive Officer and President
Co-Founder and Chief Technology Officer
Co-Founder and Chief Information Officer
Chief Financial Officer
Chief Operations Officer
Age: 48
Compensation as of Fiscal Year 2015.

LivingSocial, Inc. Key Developments

LivingSocial Appoints Nick Macey as Senior Vice President and Head of Product

LivingSocial announced the appointment of Nick Macey as Senior Vice President and Head of Product. Macey will report to President and CEO Gautam Thakar. Prior to LivingSocial, Macey served as Chief Product Officer at Rosetta Stone, where he oversaw the expansion of its product portfolio beyond language learning, with a focus on premium, personalized learning products.

Atul Kavthekar to Join as Chief Financial Officer of LivingSocial in June, 2015

LivingSocial announced the appointment of Atul Kavthekar as Chief Financial Officer. He will join the company in June, and will report to President and CEO Gautam Thakar. Kavthekar brings more than 20 years of experience in finance, banking and strategic business development. Prior to the company, he served as CFO and Head of Corporate Development for Sears Holdings Corporation’s Health and Wellness Solutions business unit.

LivingSocial to Eliminate 400 Jobs as the Deals Company Charts a New Path Forward

LivingSocial, Inc. announced that it plans to eliminate 400 employees, roughly 20% of its workforce, part of a broader corporate restructuring as its new chief executive tries to plot a path back to growth. The job cuts will bring LivingSocial's headcount to roughly 1,600 worldwide and 400 in the District. The latest round of terminations will affect about 100 local employees. The latest round of layoffs are different, however, in that they mark the beginning of a strategic shift for the seven-year-old company. Past job losses were driven primarily by a need to slash costs, and the decision to close or divest business units in some foreign markets.

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