still alive but barely breathing
Snapchat’s rejection of a multibillion dollar offer from Facebook was made “because they think making a deal now would leave many billions more on the table.” [New York Times]
LivingSocial is “ashamed and embarrassed” that its outage has lasted more than 40 hours. [AllThingsD]
That “What Would I Say?” app for cobbling your Facebook statuses together was a result of a Princeton Hackathon. [New Yorker]
Searching for a new hobby, Google’s Eric Schmidt has joined the board of The Economist. [Guardian]
Apple is requesting an additional $380 million in damages from its argument with Samsung over patent infringements but Samsung only wants to pay $52 million of it. [CNet]
We’d tell you don’t look now, but you probably weren’t anyway: LivingSocial’s website and mobile apps haven’t been working for nearly a full day. The daily deals site that isn’t called Groupon lost all ability to function as a “scheduled maintenance” outage has reportedly gone awry.
LivingSocial’s office in New York went through a shake-up yesterday. It shuttered its Midtown South office forcing employees to work from home going forward. Additionally, 30 people from the daily deal’s local events team lost their jobs. [The Next Web]
Google purchased 15 acres in its old stomping grounds of Palo Alto. The company isn’t revealing what it plans to do with the property. [Mercury News]
Netflix’s domination of the Emmy nominations Thursday is leaving television execs pretty scared. [New York Times]
Russia’s biggest telco MTR, which has 100 million customers, has stopped selling the iPhone. [BGR]
LOL at Google’s other options it was considering instead of “OK Glass,” like “Pew pew pew,” “Go go Glass,” and “Glassicus.” Just looking at the face computer is nerdy enough, but imagine having to say those things?! [Gizmodo]
Bet you thought the next big story in the ailing daily deals business was going to be Andrew Mason’s ouster. And yet, it’s a competitor making headlines: Bloomberg News reports that LivingSocial has laid off 400 of its 4,500 employees. That’s about 9 percent of its staff, for those keeping score at home.
Just when Betabeat goes and starts ragging on Foursquare for not being aggressive enough about generating some real revenue, BAM, they announce a partnership with some of the biggest names in the daily deal and flash sale world. According to Spencer Ante at the Wall Street Journal, Foursquare will remarket bargins from these services, using its intimate knowledge of the shopping habits and current location of over 10 million users to target customers who might engage with these deals.
It’s about that end-of-quarter time and Fortune’s Dan Primack crunched the numbers, following the VC money down the start-up hole. Absent 360buy.com’s $1.5 billion “venture capital” investment–because c’mon–only one local, Made in NYC company made the list. Yup, it’s the same folks whose $270 million in total funding skewed the center of New York’s tech universe further uptown. At this point, we wouldn’t begrudge the city’s other start-ups some empathy with Jan Brady. (Gilt Groupe! Gilt Groupe! Gilt Groupe!). Gilt’s $138 million commitment last quarter won them the No. 5 slot. Let’s see who their neighbors are . . .