Livingsocial—The second largest group buying website in the United States

LivingSocial, headquartered in Washington, DC, is the second largest group buying website in the United States after Groupon.

The creation process of Livingsocial:

LivingSocial has more than 1,000 employees in six different offices in Washington, D.C. The website's co-founder and CEO is Tim O'Shaughnessy. This young man from Minnesota, USA, is said to have a business mind since he was a child. At the age of 8, O'Shaughnessy persuaded a friend to use his monthly pocket money to wholesale candy and then sell it door to door to make money. After graduating from Georgetown University in Washington, D.C. in 2004, O'Shaughnessy, who graduated with a double degree in marketing and information management, found a job at the famous AOL and became a "Beijing Drifter" in the United States.

After two years at AOL headquarters, O'Shaughnessy joined Revolution Health, a new healthcare website founded by AOL co-founder Steve Case. The website grew very rapidly, with the number of employees increasing from 50 to 280 in the first year. O'Shaughnessy was highly appreciated by his boss and was promoted several times, gaining valuable experience in running a website; but more importantly, he met several like-minded friends while working on the website, laying the foundation for his future entrepreneurship.

Livingsocial development status:

Since its debut in the group buying industry in 2009, Livingsocial has been the second largest group buying website in the United States, surpassed by Groupon in both revenue and number of users. O'Shaughnessy, who is always "hungry", will certainly not be content with being second.

Since 2010, Livingsocial and Groupon have been engaged in a fierce competition for financing and expansion. Competition stimulates growth, and Livingsocial's business scale continues to grow. Their tentacles gradually spread from the eastern United States to the entire United States, and even to Canada, the United Kingdom, Ireland and Australia.

Starting in 2010, Livingsocial's business and company size grew rapidly, with a new employee joining the company almost every day. O'Shaughnessy had to give up the practice of interviewing every new employee. He lamented: "We didn't even have enough office space at the time, so we had to occupy the company's lounge and game room."

In January 2010, Livingsocial raised $5 million in Series B funding, again from Grotech Ventures and AOL founder Casey. In March of that year, Livingsocial, whose business was growing rapidly, raised another $25 million; in addition to Grotech and Case, US Venture Partners also joined the group. In the following months, Livingsocial raised another $24 million from Lightspeed Venture Partners, US Venture, Grotech, Casey and other investors.

This is the end of the knowledge about Livingsocial in this issue. If you want to get more information about Livingsocial, please pay attention and we will continue to answer your questions~