Daily Deal Market News of the Day: LivingSocial Conquers Australia
LivingSocial has come a long way since their first-ever “daily deal” July 27th, 2009, for Zengo — a restaurant in DC’s Chinatown.
Today, LivingSocial has reached yet another milepost: bragging rights to being the number one company in Australian for the daily deal market; owning the most competitive group buying environment in the entire world.
In the last quarter, LivingSocial saw a 75 per cent growth spurt, maturing faster than long-time local rivals Scoopon and Spreets — two companies who are known to be spoon fed by major Australian investment consortiums.
What’s their secret?
According to LivingSocial CEO Colin Fabig, he goes on to say, “LivingSocial is the one group buying site that has not relied on major investment for growth. Instead, we have attributed our growth to identifying and reaching out to new segments and growth areas in our target markets, resulting in innovations such as our travel and family focussed sites LivingSocial Escapes and LivingSocial Families this year, and we have definitely seen the impact in new customers.”
In other words: management with creativity and innovation.
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