LivingSocial was a daily deals website that launched in 2009 and was discontinued in 2016 after having raised $930M and having a peak valuation of $6B. The company failed due to intense competition from Groupon, expanding too rapidly to multiple geographies, and entering spaces it had no expertise in such as travel and local experiences. Plus they had difficulties in retaining customers especially after a security breach where hackers gained access to the account information of 50 million subscribers.
