LivingSocial may exit Middle East
Group buying site reported to be trying to sell local operations
Group buying site LivingSocial is reported to be considering selling its local operations, according to The National.
The newspaper says that it has seen emails related to a possible sale of regional business of the deals site, which operates in the UAE, Egypt and Lebanon in the Middle East.
The site is thought to have around 750,000 subscribers in the region for its deals service.
LivingSocial entered the local market a little more than one year ago with the purchase in June 2011 of GoNabit. The US-based company is now thought to be looking to sell its business in the face of intense competition. The company made a loss of $93 million in Q2 this year.