LivingSocial Expands into Australia with $5m Investment in Jump On It
LivingSocial is continuing to expand aggressively, this time opening up its daily deals to the citizens of Australia. The company announced today that it invested nearly $5 million for a controlling majority stake of the company.Jump On It, Australia's leading social shopping site. This means that LivingSocial's deals are now available to people in Australia, Canada, Ireland, the UK and the US.
LivingSocial is continuing to expand aggressively, this time opening up its daily deals to the citizens of Australia. The company announced today that it invested nearly $5 million for a controlling majority stake of the company.Jump On It, Australia’s leading social shopping site. This means that LivingSocial’s deals are now available to people in Australia, Canada, Ireland, the UK and the US.
This deal makes LivingSocial the biggest social shopping player in Australia.
The daily deals formerly available on Jump On It will be folded in to the LivingSocial’s brand, and will offer Australians the chance to buy one daily deal at more than a 50% discount, as well as a bonus side deal.
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