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Bad news on consumer confidence -- that good for well it is actually good news for one company called living social.
This is one of those daily deals -- -- -- is the CEO.
-- decided he's joining us out of -- of success -- -- how to figure this out Jim first of all great to have you on the program because we love talking to business leaders.
Who are our elbow deep in the thick of what's happening and try to do commerce and business.
This is actually good news when the consumers less confident why.
Well what it usually means is that families are trying to figure out how to stretch their dollars and what we do is we provide value and make it more economical to do the things that you still wanna do you know you still wanna go out to -- you still wanna go to that concert you wanna get that massage.
So when people are trying to stretch their dollars further usually the pay a little bit more attention to your company like -- social.
I'd love your site I went on it I have yet to use anything because I try not affect.
That's what I absolutely shouldn't but it is alluring.
Right -- I saw things like tooth whitening at an unbelievable discount flight training eco mattress.
I particularly -- the -- of the month barbecue but.
Out of what kind of numbers are you seeing right now and and look don't tell me -- we don't break it out I want I mean because I'm looking at some of the research and it is in essence saying that you guys are booking about a million.
Is it a week or month -- me what how how is business.
Yes those -- business has been pretty strong you know we've really -- around for about three or four years and -- over that point in time you know we've moved from do you mean.
You know a million dollars a week to air a month to a week to you know protect and so now.
So it's really -- drastically.
And we're showing global map because in Vista what last year you bought an Arabic website that does daily deals as well.
And -- we were just talking to Brian Wesbury about whether.
This is a better business climate or -- business climate does it matter who's in the White House to you you've managed to grow this company pretty exponentially during.
What some people would say was a business unfriendly time.
-- so with so we've you now hired about 2000 US jobs.
In the last three years and so we've been able to you.
To really grow.
Kind of regardless of economic cycle and regardless of a political affiliation and so -- we think you know the core basis of our business is that.
People like doing things in their cities they like finding value and merchants will need new customers and that's something that's going to exist.
Almost regardless of economic cycle -- who's in the White House.
Sutton -- yourself job for me if I'm deciding between you or going on Groupon site I mean you guys hook up local merchants.
With people with -- the first thing when when I went to register because we're doing some research here.
Asked me for my eight email address or just gave my Gmail and it knew right away that I was in midtown.
I mean how do we know what's the big question which is incredible to make him but it do it yourself pets here.
So if if you're looking to go and try and do something your city what we do as we work with that the best local merchants we've got boots on the ground and every city.
To go and creating craft an experience for you to dip doesn't or something.
I mean Tim Groupon would say the same thing right.
You know I think we're pretty different I mean we have we have people on the ground in every market which is pretty unique.
We also go and have really worked on on the experience -- side of things so.
You know what will ultimately what we wanna be is that place where you know we wanna be at a -- that you keep opening your browser all day long if you -- -- transact -- interact with the local business here community and sometimes that means even selling full -- products we have a takeout and delivery product where you can actually order.
Food online from a restaurant down the street and haven't delivered to you through us that we sell concert tickets we -- -- whole sorts of things that really you know and expand that base.
Swell to keep kids so speaking of keeping tabs open -- the keep the tab open on going public.
In this atmosphere when Groupon stock is well below where went public and and we know what happened with FaceBook it's trading below its IPO.
Is this just a matter of missing the window -- you wait a long time put some distance between those social media companies.
Well well I think if you look at the social media companies that have IP and there's been a lot of value that's been created.
And you know the vast majority of them have -- public company that in that timeframe neck -- measured in days or weeks as opposed to months or years.
And so so you know I think that we think that that the -- -- time will prove that in the companies in the social media space really are building a lot of value.
-- you know from our from our perspective that we look at you know what's the right thing for for the company to do and what does the market players look like but it certainly is something that we look at and we'll continue to look at us as we go forward.
While this was a sector that didn't even exist -- ten years account so we love to see these kinds of things grow and and Foster here in in America thanks Jim great to talk to you.
Likewise thanks so much to -- -- -- -- living social CEO it's -- --
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