Posted by Sheila Shayon on March 2, 2012 03:04 PM
In a bid to pull ahead of Groupon and other daily deals sites, LivingSocial is expanding its brand.
According to a report by Reuters, LivingSocial will launch its first credit card in the next few months, with no annual fee, offered with Chase and Visa to all U.S. subscribers in an effort to draw repeat customers for its merchant partners.
"Small and medium-sized local businesses will never be able to have their own credit card or loyalty program. We will be able to bring them the benefits of that," the company's CFO, John Bax, told Reuters.
Merchants will be offered short-term funding similar to other co-branded credit card and loyalty programs including deferred interest payments and rewards for spending. With ten purchases monthly, cardholders earn ten ‘Deal Bucks’ credits extensible to all LivingSocial daily deals and special offers such as discounted travel packages.
The move is designed to increase its utility to its subscribers — and counter critics who accuse the daily deal industry of advertising big ticket discounts and not cultivating loyalty or enough repeat business.Continue reading...
Posted by Sheila Shayon on February 20, 2012 05:30 PM
Groupon CEO Andrew Mason was bullish at the 2012 Goldman Sachs Technology and Internet Conference last week, where he commented, "We've cracked the code…at this point, when we think of the competitive landscape, we think that the biggest competitors are ourselves."
It’s a bit of bravado midst a range of troubles besieging Groupon lately including 17 lawsuits brought against the company claiming they and other retailers violate federal and state consumer protection laws regarding voucher expiration dates and provisions about single transaction usage.
“Groupon effectively creates a sense of urgency among consumers to quickly purchase ‘groupon’ gift certificates by offering ‘daily deals’ for a short amount of time,” according to the first case filed last year, reported Bloomberg. “Consumers therefore feel pressured and are rushed into buying the gift certificates and unwittingly become subject to the onerous sales conditions.”
March 12th is the projected date for settlement of the class-action lawsuits. After raising $700 million in its IPO last November, Mason is committed to staying ahead of the competition, specifically, LivingSocial. "Our goal is six months from now, when you go to Groupon, it’s going to look and feel very different," Mason was quoted by Bloomberg. "It’s going to be a much more robust and refined service that immediately jumps off the page."Continue reading...
Posted by Dale Buss on February 13, 2012 08:58 AM
ANZ Bank to cut 1,000 jobs as Australia's financial sector aims to correct slump.
Arby's plans brand refresh for third quarter.
Avon bribery-case evidence goes to grand jury, Wall Street Journal says.
Boeing eyes stretched, high-capacity 787.
Dunkin' Brands plans to double U.S. units in 20 years.
Groupon defends its accounting methods.
JetBlue plane wears Boston Red Sox colors.
Kodak runs into opposition over Kodak Theatre naming rights in Los Angeles.Continue reading...
Posted by Dale Buss on February 9, 2012 09:04 AM
Apple tightens up on apps again, frustrating developers.
Blip.tv gets fresh funding, drops .tv from brand name.
Chrysler CMO personally approached Clint Eastwood about Super Bowl ad just as he did Eminem a year ago.
Corona supports cancer research with promo.
Google nears launch of cloud-storage service.
Groupon reports net loss in first quarterly filing after IPO.
Honda aims to reclaim its luster.
Mattel launches new global campaign for Barbie.Continue reading...
Posted by Dale Buss on February 2, 2012 09:01 AM
American Airlines parent AMR plans to cut 13,000 jobs and pensions.
Apple's iPhone 5 may be coming in June.
Benetton family plans to take retailer private.
Deutsche Bank profit tumbles on European debt crisis.
Facebook sets stage for historic IPO as valuation game begins.
GM cancels half of upfront ad commitments in cost-cutting move.
Google responds to Microsoft criticism of privacy policies.Continue reading...
social media watch
Posted by Shirley Brady on February 1, 2012 06:09 PM
As highly, highly anticipated, Facebook filed today for an initial public offering of stock to raise $5 billion, the most for an web IPO since Google. Finally revealing a peek at its business drivers, highlights from its SEC filing include that Zynga accounted for 12% of Facebook revenue last year, when its net income and revenues were $1 billion on $3.71 billion.
The site's 845 million monthly active users (MAU) as of Dec. 31st include 179 million in North America (US and Canada); 212 million in Asia; 229 million in Europe; and 225 million in the rest of the world. FB, as its stock ticker will read, sees Brazil (which grew 268% last year, to 37 million MAU) and India (which grew 132% to 26 million last year) as key regions of growth. Its risk factors include mobile, government, slowing growth and Google+.Continue reading...
Posted by Dale Buss on January 31, 2012 09:03 AM
Apple hires Dixons CEO as new retail chief, while iPad sales propel Apple to top of PC market over HP. Apple patent challenger Samsung, meanwhile, faces EU inquiry.
AT&T names new strategy officer in management shuffle.
Bang & Olufsen debuts cheaper line of high-tech gadgets.
Belstaff brings luxury leather jackets to London and New York with dual flagships.
BSKyB to start movie service rivaling Netflix.
BlackBerry-maker RIM posts corporate governance report indicating why co-CEO role was scrapped.
Carrefour names yet another CEO in turnaround struggle.Continue reading...
Posted by Dale Buss on January 23, 2012 09:01 AM
ABC handles product placement delicately for Modern Family.
American Ethanol sponsors NASCAR drivers.
Apache makes $3-billion acquisition in U.S. oil business.
Apple raises "made-in-America" questions about iPhone manufacturing.
BlackBerry future questioned as RIM's new CEO takes the reins.
Carnival CEO lies low during crisis as his company mishandles communications with survivors of shipwreck.
Cisco tests LinkedIn marketing campaign.
Facebook wants to become a bigger news player.
Fisker battles problems across the EV company.Continue reading...