Living Social, the number two daily deals site, has been busy lately with several irons in a fire that is only expected to get bigger. With two recent launches just in the last week alone, the daily deals site is gaining recognition in some areas that others haven’t tapped into yet. LivingSocial Instant Escapes, and LivingSocial Instant with a Room Service division, are the two newest projects to break onto the scene.
There are a lot of plans in the works, including obtaining a $100 million dollar credit facility, a deal which is scheduled to close by the end of November. There are plans to add to their sales force, which is already large, and it appears that the wheels are spinning to come up with even more ways to put themselves in the forefront of everyone’s mind when it comes to daily deals.
One market they are not expanding into at the moment is the public investment world. While there was talk of opening the daily deals site up to initial public offerings earlier this year, they have not yet jumped in and as of right now, won’t be, until possibly some time next year. But don’t despair investors, they are talking about it, but no final plans have been made as of yet.
Right now, their focus is on expanding and exploring new markets, which means raising capital. They are looking to raise over $200 million dollars from new and old investors and that infusion of cash will raise the value of the daily deals site to over 5 billion dollars. Many of LivingSocial’s current investors will, once again, be joining this round of fundraising, and there are some new investors joining the mix as well. The fast growing, daily deals site is talking to JP Morgan Digital Growth Fund, a company known for investing in big name sites such as Facebook and Twitter.
As LivingSocial continues to nip at the heels of its biggest rival, Groupon, they are diligently looking for the best avenues of expansion and will continue to search for new and innovative markets to explore. They are most definitely on the right track.
LivingSocial Instant Escapes and LivingSocial Instant that has an added Room Service division are two such examples of breaking into new markets. LivingSocial Room Service offers customers the opportunity to have a white glove, fine dining experience in their own homes, complete with dining accessories, high-quality tableware, top shelf presentation of food and an after-dinner treat customers will love. It’ll be available on Thursdays and Fridays and each week will feature a different area restaurant. The price will be contingent upon each chef’s expertise and specialties, but you can bet that it’ll be a deal that’s hard to resist.
Restaurant co-owner Ari Kushimoto Norris, of KUSHI restaurant, stated that he was excited to be the official Room Service launch partner and sounded very positive about the business this could bring to his restaurant as well the opportunity they have through LivingSocial Room Service, to reach a whole new target audience, the “take out” crowd.
It’s a new, exciting way to get people coming back for more and that is exactly what LivingSocial wants. With the addition of new ideas like LivingSocial Instant Escapes and LivingSocial Room Service, people are going to take notice…and they are. LivingSocial may be the number two daily deals site at the moment, but from the looks of it, they have no intention of staying there.