Washington – In the largest deal to date in the social
buying space, LivingSocial on Wednesday sold 1.3 million Amazon.com (NASD: AMZN) gift cards.
The nationwide deal charged $10 for a $20 certificate from Amazon, the online
retail giant that six weeks ago invested $175 million in LivingSocial.
TechCrunch reported that the approximately $26 million in card value blew away
the previous largest deal in the space, a Groupon deal for The Gap that
produced $11 million in card value.
Responding to reports of a glitch in its
system that may have allowed some people to exceed the limit of one card per
customer, CEO Tim O’Shaughnessy told Silicon Alley Insider, "In short,
there is no widescale problem of users purchasing more than one gift card
voucher."
Related Links:
http://www.livingsocial.com
http://tinyurl.com/4pky8cq
(TechCrunch)
http://www.businessinsider.com/livingsocial-server-flaw-2011-1
1,301,296 sold! This deal is exactly what social marketing is all about and it’s a great win for both Amazon and LivingSocial. Go big or go home! I started a site to track all of the Groupon clone sites that are springing up…. I’ve got 130 group buying sites so far and you can sort to see which have offers for your city. If you know of any I’m missing, please submit them through my site. http://www.localdealsites.com/
But same cc? How many gift cards you got confirmed?
savemore a groupon / living social copy cat is giving away 50 pairs of tickets to Superbowl 45! with that they are throwing in a $500 visa too!
savemore
That 1.3 million is a sham. Living Social has been canceling people’s orders by the thousands today. That is shady business! I’ll never use Living Social. I’ve never heard of Groupon pulling something like that.