In October 2016, the "daily deals" pioneer acquired its long-time rival LivingSocial , marking the end of a fierce era of competition in the social-buying space. The Deal at a Glance
While the acquisition helped Groupon eliminate its primary competitor and gain high-value subscribers, the announcement initially received a lukewarm reception from investors. Groupon's stock dropped by roughly following the news, which was buried in a third-quarter earnings report that showed a net loss of $35.8 million. groupon buys livingsocial
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. In October 2016, the "daily deals" pioneer acquired