The acquisition cost was described as "not material," meaning it was small enough that Groupon was not required to disclose the exact figure in its financial reports.
Investors, including (which had invested $175 million in 2010), ultimately saw significant losses on their investments as the company's valuation plummeted. Impact on Groupon groupon buys livingsocial
LivingSocial's sale was a dramatic exit for a company that was once a tech darling. At its peak in 2011, it employed over 4,000 people and had raised nearly $1 billion in funding. However, by the time of the sale, its workforce had dwindled to roughly 200 employees through multiple rounds of layoffs. The acquisition cost was described as "not material,"
The deal was part of a larger streamlining effort by Groupon to exit dozens of international markets and focus its operations on a core group of countries. Groupon Buys Rival LivingSocial, Reports Another Loss - WSJ At its peak in 2011, it employed over