LivingSocial is raising money privately at a $5-6 billion valuation, according to reports. The company had briefly considered an IPO. LivingSocial is the other daily deals behemoth, and it’s doing very well. We even think it has a chance to overtake Groupon →
Eight newspaper publishers, (including Hearst, The McClatchy Company and The Washington Post Co.) have created a new company to develop and further local advertising and daily deals. This kind of consortium could become more common and also ultimately be a threat to companies like Groupon. “It is a shopping portal that provides, in a single location, a myriad of shopping tools and advertising products being used by our local affiliates,” CEO Christopher Tippie told paidContent.
Ralph Whitworth, a co-founder of Relational Investors LLC, has joined the board of HP after he took a reported 1% stake in the company. HP is trying to regain its balance after a series of recent problems, and Whitworth is known for being an activist investor– but it’s not clear how much influence he would actually have on the board.
Stifel has increased its 4Q revenue estimate for Bankrate to $105.5 million. That’s higher than the consensus, and is based on Stifel’s view that the company’s targeted clicks business is particularly strong, its upcoming acquisition of InsWeb will increase income, and the fact that “credit card issuers continue to spend aggressively with Bankrate because of Bankrate’s high quality audience, which skews toward prime borrowers.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.