LivingSocial CEO Tim O’Shaughnessy to step down LivingSocial, a company that competes with Groupon (GRPN) and others in the Daily Deals space and other online deal offerings, announced on its corporate blog that its CEO Tim O’Shaughnessy recently informed the company's Board of Directors that he will be stepping down as CEO of LivingSocial later this year. LivingSocial will start a search for a new CEO today and hopes to fill the position in the first half of 2014, O’Shaughnessy stated in a letter to staff. Reference Link
Groupon jumps 5% after positive mention by Leon Cooperman Shares of Groupon are trading higher after Leon Cooperman of Omega Advisors said on CNBC that his firm believes shares are worth 40%-50% more than current trading levels. Cooperman added that the provider of coupons is not a large holding for Omega. Groupon shares are up 5%, or 32c, to $7.15 in afternoon trading.