Former Groupon President and COO Solomon Joins Accel Partners

Every time a bell rings, a VC gets its wings.
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LivingSocial Hack Update: Investigation Ongoing, While Emails Out to 50 Million Users

On the bright side … actually, there is no bright side.
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Groupon CFO: No Changes to Business Model

Groupon Inc. Chief Financial Officer Jason Child said Tuesday the embattled daily-deals company won’t be shifting its business model as it seeks out a new CEO, and argued the firm is on the right track.

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LivingSocial Gets a Much-Needed $110 Million Boost

LivingSocial Inc. recently raised $110 million from existing investors, giving its coffers a much needed boost after the daily-deals company’s 2012 losses widened by 30 percent last year.

After Acquiring 15 Groupon Clones, CrowdSavings Finds a Buyer for Itself

The two companies merging today are responsible for 19 acquisitions combined in the daily deals space.
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News Byte

Sift Raises More Funding to Help Turn Your Inbox Into a Personalized Shopping App

Sift has raised $540,000 in funding to turn the deluge of offers sent to consumers via email into a shopping app for the iPad. The Burlingame, Calif.-based company, which was incubated by the Tandem accelerator, said the seed funding comes from Shawn Wang, co-founder of Baidu and Unity Ventures; Deep Nishar, SVP of Product at LinkedIn; Bhupen Shah, co-founder of Sling Media; Sand Hill Angels and others. The money will be used to hire more employees.

News Byte

Group Commerce Confirms 31 Layoffs as It Withdraws From Local Deals

New York-based Group Commerce, which runs a daily deals platform for media companies, has laid off 31 people, or roughly 30 percent of its 109-person staff. BusinessInsider first reported the news, confirmed by CEO Jonty Kelt in an email to AllThingsD. The layoffs mean that Group Commerce will no longer source deals locally, and instead will focus on national offers. “We incurred the cost of sourcing local offers, yet did not have control over distribution,” he said, which in turn meant it couldn’t control its revenue.

“App and Mortar” Is One Way to Describe the Trend in Mobile Commerce

A new report figures out who is benefiting right now from the mobile commerce trend. Surprisingly, it’s physical retailers.
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One Less Groupon Clone: J.P. Morgan Chase Acquires Bloomspot

J.P. Morgan Chase is acquiring Bloomspot, one of the smaller daily deals companies in the U.S.
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