Another online company is getting physical.
LivingSocial is looking beyond daily deals, just as Google is looking beyond digital advertising and Amazon is looking beyond e-commerce. All three companies announced plans to build new, physical retail space.
LivingSocial, which is based in Washington, D.C., is spending $3 million to renovate the city's historic Penn Quarter building and setting up an experimental retail space, according to the Washington Post. The six-story, 28,000 square foot building will give local merchants a flexible space with a range of facilities, including a refurbished culinary kitchen.
LivingSocial has hired a small team to staff the new location when it opens on Feb. 16, Marie Griffin, a company spokesperson told FINS. The new retail space is not about immediate job creation, but about the "long-term ripple effects for local businesses," said Griffin.
"It could be a chef who has a brand new menu and wants to experiment to grow his or her business," she said. "Or maybe it's a yoga instructor who doesn't have a yoga studio and who can teach classes here and build up his or her own brand."
LivingSocial now calls itself a local commerce company and refers to its daily deals model as a voucher business, the Washington Post said.
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List of the Day: Surviving a Conference
It can be intimidating to go to a conference alone. Here are some tips to make it through.
1. Wear an outfit that makes you feel confident.
2. Chat with the speakers if you don't see anyone you recognize in the crowd.
3. Talk to the person closest to you and try to move beyond small talk.
(Source: The Daily Muse)