Street Fight Daily: 11.21.11
A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
LivingSocial to Announce New Funding (CNBC)
Daily deals site LivingSocial has raised a new round of private capital, a move that could be seen as a near-term substitute for an initial public offering. The equity portion of the capital raise was said by sources to be a “moving target” but that it should settle around $200 million, valuing the company around $6 billion.
Pandora to Roll Out Geo-Targeted Political Ads (Wall Street Journal)
The online radio service has unveiled a new targeted ad product aimed at political candidates and special interest groups. Using ZIP Code data gathered when consumers sign up for an account, Pandora can target ads to a defined geographic area such as a congressional district.
Mobile Deals Set to Lure Shoppers Stuck in Line (NYT)
As retailers battle to draw customers into their stores on Black Friday, online merchants are plotting a cunning ambush — offering an arsenal of mobile-only deals intended to pick off shoppers as they wait in line.
Amex Users On Foursquare Get Free Money On ‘Small Biz Saturday’ (TechCrunch)
Foursquare is giving away a free $25 credit to American Express cardholders through a new promotion taking place on November 26th. To get the credit, Foursquare users have to spend $25 at a local merchant and check-in using the mobile app.
Shopkick Teams With Visa to Tie Rewards to Card Purchases (GigaOm)
Shopkick, which has 2.5 million users, will now let users link the mobile application with their Visa credit or debit card, which will tie into a new Buy and Collect program. Now, users will not just get kick rewards for visiting a store or scanning an object, they will get additional rewards, such as “spend $40 and receive 250 kicks.”
Why Yelp May Never Make a Profit (Business Insider)
Yelp is hoping to raise $100 million when it goes public but a close look at its IPO disclosure with the SEC shows that if the shopping and restaurant review site doesn’t change its business model it may never make money.