Amazon's LivingSocial Buy Was A Bust
Mashable, Friday, October 26, 2012 12:02 PM
In its third-quarter earnings report, Amazon took a writedown of $169 million for its stake in daily deals site LivingSocial. That is nearly equal to the $175 million the ecommerce giant paid for
the Groupon rival less than two years ago. Along with Groupon’s sagging stock price, Mashable suggests that the writedown is the clearest sign yet “that the daily deals bubble has
burst.” Making matter worse for Amazon, the company reported its first quarterly net loss in four years, despite strong net sales.
Recent Around the Net In Online Marketing Articles
-
Microsoft Bows Xbox-Exclusive Series May 21, 12:15 p.m.
Microsoft this week debuted “The Music Room” -- a new interactive TV series that will be ... -
Fab Could Flaunt $1B Valuation May 21, 12:15 p.m.
Fab Inc. is reportedly close to raising $250 million to $300 million, which would value the ... -
Yahoo Redoes Flickr May 21, 12:15 p.m.
On the heels of its agreement to buy Tumblr, Yahoo on Tuesday relaunched photo service Flickr. ... -
Apple Losing Luster Among Mobile Users May 21, 12:15 p.m.
Adding to suspicions that Apple is losing its luster, new data shows that customers are not ... -
Chinese Hackers Pose New Threats May 20, 11:25 a.m.
After a short pause, Chinese hackers have reportedly resumed their attacks on various U.S. targets, including ... -
YouTube Users Upload 100 Hours Of Video Every Minute May 20, 11:23 a.m.
In honor of its eighth birthday, YouTube has released some viewership data worth celebrating. “Most staggeringly, ... -
Pinterest Brings Brands Into The Fold May 20, 11:22 a.m.
Don’t call it advertising, but Pinterest just debuted a new type of pin, which is seen ... -
Google Glass Apps Adding Up May 17, 11:47 a.m.
In what has become a necessary step for any successful operating system, Google Glass is starting ... -
Groupon Drags Out CEO Search May 17, 11:46 a.m.
Speaking of Groupon, the deal site says it’s unlikely to name a permanent new CEO until ... -
Andrew Mason Plotting Next Company May 17, 11:44 a.m.
What’s Andrew Mason been up to since being booted from the top spot at Groupon? Well, ...
Be the first to comment on "Amazon's LivingSocial Buy Was A Bust"
Leave a Comment