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Tim O'Shaughnessy has announced that he will step aside as CEO of LivingSocial after co-founding the company in 2007. Per O'Shaughnessy's letter posted today via the firm's blog, the struggling digital discounts brand will replace him during the first half of this year.
Does the development mean LivingSocial is withering in a competitive e-commerce climate, as many have speculated for months? Well, a source close to the company—while acknowledging its myriad issues—thinks O'Shaughnessy's successor might have a decent shot at beating the odds.
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