Great after hrs. news.for GRPN. Living Social can't compete. closing offices.
Wall Street Cheat Sheet 7/17/13
4 Tech Stock Stories Ready for a Midweek Download
By Mark Lawson | More Articles
July 17, 2013
Groupon (NASDAQ:GRPN): Closing price $8.85
Groupon’s rival LivingSocial confirmed that it’s shutting down its New York office at 101 Fifth Avenue, and is terminating its local events division. This comes less than a month after LivingSocial shut down its Seattle office, reportedly asking their Seattle employees to telecommute. The New York staff — which includes sales and advertising employees — will also work remotely, as the company exits its New York headquarters in Midtown. It was said that the headquarters had taken up the building’s entire fifth floor, or 60,405 square feet.