The co-founder of the discount deals site announces he's stepping down as the company struggles to figure out its next steps.
Due to an internal error, the daily deals' Web site and app have been out of commission for more than 24 hours.
Hackers target LivingSocial, stealing the personal data of more than 50 million people in an enormous security breach.
The cash infusion will allow the daily deals site to pursue its "aggressive road map" while buffering it against "unanticipated events or bumps in the road," says CEO Tim O'Shaughnessy.
The daily deals world is awash in financial woes, and LivingSocial is no exception. After a net loss of $566 million in the third quarter, the company is now reportedly about to cut jobs.
The daily deals site introduces the flashy e-commerce site to its 24 million users.
The company battling Groupon in online-bargain category is broadening its offering from services to stuff in order to keep pace.
The daily-deals provider won't follow its chief competitor, Groupon, to the IPO market anytime soon, it seems.
The daily deals company taps into the private markets to fund its expansion.