LivingSocial announced that its chief financial officer would leave

Summary: Global group buying market, after a flash in the pan left too many bubbles. In the United States, only two companies have been able to survive Groupon, and Amazon's group buying business LivingSocial. Recently, LivingSocial announced that its chief financial officer will leave

The global group buying market, after a flash in the pan left too many bubbles. In the United States, only two companies survived – Groupon, the founder of group buying, and LivingSocial, the Amazon group buying business. Recently, LivingSocial announced that its chief financial officer will leave, coupled with the founder and CEO has proposed to leave, LivingSocial management will usher in a major change, but management turnover, whether it can find a way to change the site is still unknown.

Recently, LivingSocial announced that the chief financial officer, Johnbax, who has been in the company for four years, will resign. After joining the company, LivingSocial a hundreds of millions of dollar investment from an investment organization and several mergers and acquisitions in overseas markets.

He said he had told the company at the end of last year that it had decided to resign, and that the company had been arranging financial transitions since then. He says his three children and his wife, who live in Oklahoma, want to spend more time with their families.

The timing of the LivingSocial was a big change in management since the company was born. In January this year, LivingSocial's founder and CEO, Oscionesi TimO ' Shaughnessy, announced that he would remove the CEO and leave the company, but would continue to work in the company before looking for a replacement, after which the company had been looking for a new CEO.

The big change in LivingSocial's executives is taking place in an increasingly depressed group buying market, where companies need to find a path to transition. In an interview with the media, Bacchus talked about changes in the group buying market, saying that on the one hand, people from LivingSocial saw a big company that didn't exist five years ago, with sales of more than 1 billion dollars and thousands of employees, but on the other hand, the group buying market was not as big as people thought, Many competitors have withdrawn from the market, with only two companies left.

Clearly, Baxter refers to the originator of Groupon and LivingSocial, the two "leftover" companies.

Face group buying market is precarious, LivingSocial already began to thin body action. At the end of last year, the company transferred two overseas businesses, exchanging 300 million of dollars in cash, in which they ticketmonster South Korea's ticketing website to Groupon, the group's rival. The company will use the funds to consolidate its operations in the North American market.

The Washington Post points out that the urgent task of LivingSocial is to find a way to transform and replicate the successful experience in the group buying field.

Generally believed that LivingSocial internationalization strategy suffered Waterloo, from 2011 onwards, they have acquired Ensogo, Dealkeren, Gonabit and other overseas group purchase website, but after the acquisition did not have the ability to integrate, overseas assets instead became their own baggage.

In addition, the US network retail giant Amazon, is now LivingSocial's first shareholder, but LivingSocial has become an Amazon investment "bottomless pit", last year, Amazon again to the struggling LivingSocial, injected $56 million trillion.

In stark contrast to LivingSocial, Groupon, the originator of Groupon, has already implemented the transition project. It expanded the electronic coupon business, began to launch the physical commodity network retail, in addition to the use of offline merchant resources, the introduction of the ipad flat based commercial terminal applications, to provide more efficient online promotions. Just two weeks ago, Groupon announced the purchase of Snapsaves, a Canadian rebate company. Morning）