In the wake of Groupon’s successful debut on Wall Street, many are urging its chief competitor to hasten its own initial public offering. We sat down with LivingSocial’s chief executive to discuss his vision for the business and his changing role in the company.
Now that the dust has begun to settle following Groupon’s initial public offering – the largest from a web company in seven years – market analysts are left mulling the only reasonable question: Who’s next?
Groupon’s debut quickly sparked rumors that its top competitor will soon follow suit, and some experts have advised LivingSocial to hasten its initial offering.
“If I’m on LivingSocial’s board, I need to get public very quickly,” John Backus, managing partner at New Atlantic Ventures, told Capital Business. “Otherwise, the distance between me and Groupon is going to get bigger.”
Others have suggested LivingSocial could actually render Groupon obsolete by first integrating into Amazon (one of the company’s top investors) and then moving into the public market.
The company has routinely declined to comment on speculation concerning a public offering, but in the video above, CEO Tim O’Shaughnessy did sit down with us to discuss his methods for scaling the business, his evolving role in the company and his expectations for the future of daily deals sites. (O’Shaughnessy is the son-in-law of Washington Post Co.’s Chairman Donald E. Graham.) - J.D. Harrison