A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Trulia Files to Go Public (New York Times)
The company said in its filing that it planned to raise $75 million in the stock offering, although that it is a figure used to calculate the registration fee. It says it has more than 360,000 active real estate professionals — 21,544 of them paying subscribers For the six months that ended June 30, the company said it had revenue of $28.9 million and a net loss of $7.6 million.
Groupon Investors Give Up (Wall Street Journal)
Some of the early backers of Groupon Inc., including Silicon Valley veteran Marc Andreessen, are heading for the exits, joining investors who have lost faith in companies that had been expected to drive a new Internet boom. At least four Groupon investors who held stock in the daily-deals company before it went public have sold or significantly pared back their holdings in recent months.
Layoffs At Plum District Point To Changes In Hyperlocal Deals Market (TechCrunch)
It appears that hyper-local isn’t quite working out for the deals site, which carried out an extensive round of layoffs last weekend in a slow shift toward national deals. According to sources, 24 regional sales managers and between 10 and 12 corporate employees were terminated between Friday of last week and this Monday.
Foursquare’s Big Overhaul Falls Flat With Users (New York Post)
The SoHo firm, once one of New York’s hottest start-ups, has barely moved the needle in active users since its June redesign. Industry insiders called it an alarming trajectory for a company that has been hailed as the city’s great tech hope and has attracted more than $70 million from investors.
Mobile Messaging Adspend to Reach $7.4bn by 2017, Driven By Increased Use of Location-Based Ads (Juniper Research)
Advertising spend on mobile messaging will reach $7.4 billion by 2017, a new report from Juniper Research finds. This growth will be driven by a dramatic upsurge in the use of location-based SMS to deliver relevant ads to consumers.
Payment Data Is More Valuable Than Payment Fees (TechCrunch)
All of this innovation (read: competition), combined with government intervention, means that payment fees are falling, threatening revenue streams for incumbents and startups alike in the payments space. But a broader opportunity exists: using the data of payments to build a more valuable, more defensible business model, one not dependent on fees. The result will revolutionize offline commerce and online advertising.