Walmart, Sam’s Club Help LivingSocial Set Sales Record

By  |  March 6, 2013
 | 

Daily deals giant LivingSocial booked $8.6 million in revenues on March 5 — a one-day record for the company — according to Business Insider. LivingSocial CEO Tim O’Shaughnessy told employees in an email. Business Insider said the sales boost came largely thanks to a discounted $45 offer for a Sam’s Club membership. In addition, asource close to the company told Business Insider that the company shared revenues with Walmart, meaning that the deal was profitable for the company.

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    “That’s a contrast to past deals LivingSocial ran with Whole Food Market and Starbucks, where many believe the company sold discounted gift certificates at a loss, or at best breakeven, in an effort to sign up customers,” BI reported.

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