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 . . .