LivingSocial and for that matter Groupon were once ‘next big things’. They raised a lot of money, burned a lot of cash, and built of mailing lists of people who don’t like to pay retail. This week Living Social laid off about half of its workforce. Over the paid 18 months they’ve shed better than three-fourths of their employees.
Now they have a new way to put money into your pocket rather than theirs: Living Social Restaurant Plus will give you up to a 30% rebate when you spend at specific restaurants at certain times.
And they’re still spending other peoples money to get a business going: They will give you a 100% rebate on your first qualifying meal up to $20 when you sign up. (You have 30 days from signup to take advantage of the offer.)