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When a large company starts to decline, the blame is often placed in two places: with the CEO and with the Board of Directors. Depending on whether the problem is seen as systemic or not, either the CEO will be kicked out by the Board, or the Board will be forced to resign by the shareholders.
Daily deals sites had their hot moment. Then they had their backlash moment. Now they're trying to have a mature moment. Three years in, and the industry is tasked with figuring out a sustainable business model that doesn't spam, kill local businesses, or die out as a fad. The way they plan to do that, thus far? DIVERSIFICATION! At least, that's how LivingSocial Ceo Tim O' Shaughnessy sold it at Business Insider's Social Commerce Summit in New York this afternoon. O'Shaughnessy said the company will avoid losing relevance with consumers by focusing on specialized categories like travel and family. LivingSocial Adventures, Escapes, Families and Instant all launched in 2011, and the company is "pushing hard" on its new products. Still, LivingSocial lost $558 million last year on $245 million in revenue. O'Shaughnessy attributed the loss to investing in new product development (like LivingSocial Adventures) and putting feet on the ground in its local markets.
A report was published yesterday that claimed that the "app economy" has created 466,000 jobs in the last few years. For those that don't know, the app economy includes the people who develop the applications, the people who help those people, and the support people behind it all. Whether it is the initial developer, or the indie shop, or the company that cleans the offices of the developers, these are all part of the "app economy".
You might need a whiteboard for this one.
Another week, another episode of "Why Isn't This News?" -- the web show that asks the question "why don't they buy a damn microphone?" but stubbornly refuses to answer it.
Barry Diller's IAC is testing the waters on a partial exit of Vimeo, according to two sources familiar with the situation. The company is hoping to raise a $50 million round of funding in conjunction with a spin off of the hipster online video business.
Et tu, David Carr?
Yesterday, Samsung debuted another aggressive ad against Apple during the Super Bowl. The ad in question pushes Samsung's latest-and-greatest: The Samsung Galaxy Note. While we could go into the details on why the Galaxy Note isn't a true competitor of the iPhone’s, we won't. Instead, let's try to understand what Samsung is thinking.
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