LivingSocial Expands Markets Globally, But Can it Compete with Groupon?
LivingSocial now serves 627 markets globally.
The Groupon (NASDAQ: GRPN) competitor has announced that it has added 15 new markets to its roster, with eight going toward LivingSocial's family deals, and seven going toward the daily deals:
New locations for family deals:
- Ann Arbor, Mich.
- Buckhead, Ga.
- Harrisburg, Pa.
- Napa/Sonoma, Calif.
- Northern Denver
- Ocean/Monmouth, N.J.
- Olympia, Wash.
- Southern New Hampshire
New locations for daily deals:
- Asheville, N.C.
- Central Illinois
- New Haven, Conn.
- Ogden, Utah
- Fraser Valley, British Columbia
- Kingston, Ontario
- Saskatoon, Saskatchewan
The company didn't have much else to say on the matter, but one thing is clear: LivingSocial has become a prominent competitor to the daily deals leader, Groupon.
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ACTION ITEMS:
Bullish:
LivingSocial is partially owned by one of the biggest names in online retail, which provide investors with an opportunity to:
- Go long Amazon (NASDAQ: AMZN), a company that is constantly diversifying its product portfolio with fresh offerings.
If daily deals sites continue to rise, it could put a damper on:
- Traditional retailers like Wal-Mart (NYSE: WMT) and Target (NYSE: TGT), which rely on traditional deals (and crazy Black Friday sales) to drive revenue.
Lightbank, the technology investment vehicle from Groupon co-founders Brad Keywell and Eric Lefkofsky, is one of Benzinga's investors.
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