LivingSocials Expands Into Europe With Acquisition of Let's Bonus
Watch out Groupon! Competitor LivingSocial announced today it would be expanding in Europe by buying Let's Bonus, a Barcelona-based group buying site.
Groupon competitor and group buying powerhouse LivingSocial announced today it would be acquiring a majority stake in Spanish startup Let’s Bonus, a pioneer social shopping site in Europe. The acquisition marks the companies’ most recent foray into global expansion. LivingSocial now has presence in ten countries, which includes those countries where Let’s Bonus already has a strong presence: Spain, Italy, Portugal, Argentina, and Mexico.
Having launched only in September of 2009, Let’s Bonus quickly grew to 200 employees and created a strong presence in major centers like Barcelona, Madrid and Buenos Aires by offering typical daily discount deals of 70% off on fun and exclusive activities, such as gourmet dinners, luxury spas, and romantic escapes.
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