LivingSocial didn’t exactly have a banner year in 2012. But in 2013, the D.C.-based online coupon company continued to spiral down. (Washington City Paper also sells coupons online.) Yeah, the company announced at least $110 million in investments this year (about half from Amazon), but it’s never a good sign when a company touts a $25 million quarterly net loss as good news, saying they usually lose more money than that in a typical quarter.
Money wasn’t the only problem the firm had. It got slammed in the media when it offered deals that mixed guns and booze; later, it had to apologize for hosting a “7 Deadly Sins Halloween Party” at its downtown event space that featured a “greed room” decorated with dreidels. Once the golden child of D.C.’s nascent tech boom, LivingSocial has a long way to go before it can collect $33 million in city tax breaks it was promised on the condition that the company employ 1,000 people in the District by 2015, hire an additional 50 people each year after that, and build a new office in the District of at least 200,000 square feet.