Discount deal of the day: One beleaguered ex-unicorn on sale for (at least) 99 percent off peak sticker price.
That's the thrifty deal Groupon just struck to buy fellow online coupon peddler LivingSocial as the former looks to pare down its own operations to a little more than half its current size.
The merger was announced Wednesday afternoon in a quarterly earnings call with investors.
Once a powerhouse rival to Groupon, the Washington, D.C.-based startup's value has plunged precipitously from a peak of around $4.5 billion in 2011, bottoming out at somewhere in the low tens of millions or less. Read more...More about Groupon, Livingsocial, Business, and Advertising