Groupon To Lay Off Remaining LivingSocial Staffers, Close Company's DC Office
After acquiring DC tech firm LivingSocial in October, Groupon plans to lay off the remaining employees at its once-promising startup competitor.
By the end of this year, Groupon plans to lay off the last 95 LivingSocial employees and close the company's last DC office at 1445 New York Ave. NW, the Washington Business Journal reports.
The company said 30 of the employees would lose their jobs in April and the rest would come later in the year.
LivingSocial was once one of DC's most promising tech companies, raising more than $800M with a valuation of $4.5B, employing 4,500 workers and occupying a large footprint in the DC office market. After the daily deals market lost its momentum, the company struggled and was eventually bought by Groupon for no real cash.
