Street Fight Daily: LivingSocial Sales Record, Foursquare Updates Check-in
A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Struggling Deals Site LivingSocial Just Hit A Crucial Sales Record (Business Insider)
LivingSocial, an Amazon-backed online marketing company known for its discounts for local businesses, just booked $8.6 million in revenues on Tuesday CEO Tim O’Shaughnessy told employees in an email — a one-day record for the company. It is a much-needed reprieve for the Washington, D.C.-based company, which recently had to raise $110 million from existing investors on secretive—likely harsh—terms.
Deep Cuts Brought Daily Voice Back From the Brink (Street Fight)
Faced with uneasy investors and a cash burn of $500,000 a month, the company’s founder Carll Tucker wondered last weekend: “Is this it?” But after 48 hours of number crunching, Tucker finally came up with a one-page document that he was convinced would be Daily Voice’s passport to a secure future.
The Check In Is Dead; Long Live The Check In As Foursquare Adds Quick Glide Feature On iOS (TechCrunch)
After pushing consumer-facing features that allow you to dive deep into venue information, whether you check in or not, the metric is clearly still Foursquare’s bread and butter. Today, the company has released an iOS update to speed up the check-in process.
Banjo Founder: ‘Emotional Connection’ Is Key for Mobile (Street Fight)
In less than a year, social discovery app Banjo has jumped from fewer than a million users to over four million. The mobile service allows users to discover real-time data across social networks, and it recently launched a tablet app. Street Fight caught up with Banjo founder and CEO Damien Patton to chat about the future of mobile, making money from ads, and the value of data.
Groupon Board Is Said to Focus CEO Search on External Candidates (Bloomberg)
Groupon’s board plans to find someone from outside the company to replace Andrew Mason, who was ousted as chief executive officer of the daily deals website last week, two people with knowledge of the matter said. Directors expect to hire an executive-recruiting firm in the next two weeks and aim to find a new CEO within three to six months, said the one of the people, who asked not to be named because the matter is private.
Bloomberg’s Advice to Yext: Don’t Let ‘Em Eat Your Lunch (Inc.)
Before taking the podium to speak at the newly-minted New York City headquarters of Yext — a location software company — mayor Michael Bloomberg took Howard Lerman, the company’s co-founder and CEO, aside to issue some sage advice. “He whispered in my ear: ‘be careful or somebody else will eat your lunch,'” Lerman told Inc. “‘Anyone is going to be able to swipe your business if you’re not paying attention.”
Why Wander Isn’t Launching at SXSW, Even Though It Would Make Perfect Sense (PandoDaily)
Expectations for TechStars NY darling Wander are high. Very high. It’s been almost a year since the company graduated from the accelerator program, having raised what VC’s have characterized as a “very hot” $1.2 million seed round. I finally saw the private beta app. It’s not about travel any more — it’s about your day-to-day wandering. The place tags are gone. And it’s mobile-first.
Why Retail Apps Should Worry Publishers (Reflections of a Newsosaur)
Alan D. Mutter: From Best Buy to CVS and from Kroger to Macy’s, the biggest buyers of newspaper advertising have launched sophisticated smartphone apps to establish increasingly direct and profitable relationships with individual customers. These efforts should give publishers the shivers, because this new channel represents a major threat to the retail lineage that constitutes half of what’s left of the advertising sold by news media.
xAd: 9 out of 10 of Our National Advertisers Are ‘Conquesting’ (Screenwerk)
Greg Sterling: According to Monica Ho, marketing VP at local display network xAD, “9 out of 10″ of its national advertisers are engaged in “conquesting.” National advertiser campaigns on the xAd network often feature one type of ad creative to reach people around the companies’ locations and a different approach and ad creative targeting consumers around competitors’ locations.