Deals site LivingSocial cuts 400 jobs worldwide

Published on NewsOK Modified: November 29, 2012 at 1:48 pm •  Published: November 29, 2012
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Groupon's stock fell 2 cents to $4.40 in afternoon trading Thursday. The Chicago-based company went public in November 2011 at $20 per share. Earlier this month, Groupon reported a small loss for its third quarter. While its revenue grew by a third, it wasn't as high as Wall Street had hoped due largely to the weak economy in Europe.

Groupon's growth rate has steadily declined: In the fourth quarter of 2011, in its first earnings report as a public company, Groupon said its revenue nearly tripled. That fell to 89 percent in the first quarter of this year, 45 percent in the second quarter and 32 percent in the third.

Amazon.com Inc. has a small stake in LivingSocial, which is a privately held company.

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