We know D.C. Get our free newsletter to stay in the know.
LivingSocial co-founder and former CEO Tim O’Shaughnessy has a new gig. Starting next month, he’ll be president of Graham Holdings Company, the investment and acquisitions company formerly named after the Washington Post, which it sold last year.
O’Shaughnessy will lead the post-Post company in a new direction, Graham Holdings Company Chairman and CEO Donald Graham said, according to a release on Business Wire.
O’Shaugnessy, 32, oversaw LivingSocial as it grew into a $2 billion company. He also oversaw it as the online coupon business model collapsed and the D.C.-based company took nosedive after nosedive. He stepped down as CEO in August.
“I think the structure of the business is unique and allows for a long-term view at a time in which it’s more and more difficult to think five or ten years out,” O’Shaugnessy said in the release. “The financial fortress that is this business—the healthy balance sheet and the great businesses will allow us to invest and grow new great businesses are incredibly stable and will give an opportunity for the management team and everyone involved to build the next generation of this Company.”
Graham Holdings Company still owns Slate, Foreign Policy, and Kaplan Test Pre.
O’Shaughnessy should have a comfortable transition to the new company. He’s married to Graham’s daughter, who is CEO of SocialCode, a social marketing technology company owned by Graham Holdings.
Illustration by Jandos Rothstein