Lakeway, NY -- (SBWIRE) -- 02/22/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
LivingSocial Inc. raised $110 million from its existing investors, which was much-needed after the company’s losses increased by 30% in 2012.
Tim O-Shaughnessy, Chief Executive, made an announcement in a memo addressing his employees that the new investment will help the company to dedicate required resources and will also build significant cash reserve against unforeseen events.
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Despite earning $536 million revenue in the last year, the company reported a $560 million net loss for the year. In the previous year, the company had a loss of $499 million.
Amazon Inc suggested that the book value of LivingSocial was $179 million when it valued its 29% stake at $52 million. In September, Amazon suggested LivinSocial’s book value to be $324 million, and approximately $1 billion in June.
The loss in 2012 was due to impairment charge of $579 million, attributable to depreciating values of some of the overseas investments of LivingSocial.
Groupon Inc(NASDAQ:GRPN), the biggest rival of LivingSocial, has not performed well in the past year and it might be due to consumers losing interest in daily deals. In November, Groupon’s share value went low when the company reported a loss for the third quarter. Since November 2011, the company’s shares have fallen about 78%.
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Zynga Inc(NASDAQ:ZNGA) announced that their one year old Draw Something game has surpassed 100 million downloads.
The company wrote in a blog post that getting into that club is harder than getting backstage at a Jay-Z concert.
Apart from 100 million downloads; the company has many other interesting stats to discuss as well. Presently, users in 190 countries play this game in 13 different languages. The app’s library has collection of more than 11 million Lady Gaga drawings.
Zynga acquired Draw Something and more than 35 other articles in March when it hitched gamemaker OMGPOP for an estimated $180 million. The game has been downloaded more than 35 million times on the iOS and Android markets. The Pictionary-like game is available for free or $0.99 for an ad-free versio`n.
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