http://online.wsj.com/article/SB10001424053111903520204576483132028935292.html#ixzz1UP6bi7uj

While Groupon is dealing with ever growing competition from local deal of the day companies and larger national players like LivingSocial, it is dealing with a SEC review and an investigation by the state of Connecticut.

The State of Connecticut believes that Groupon’s deal of the day coupons may violate state law. In other words, Groupon has its hands full.

LivingSocial’s purchase enables it to establish a beachhead in Asia. LivingSocial now operates in 23 countries. LivingSocial is making money overseas and filling its war chest.  Nice work.  Smart work.  The company is building its customer base and filling its coffers.  The company can build significant value for its shareholders while simultaneously building its marketshare.

LivingSocial may be the fastest growing e-commerce business today.  By May or June 2011, this company was generating $1 M per day, with 2011 revenues projected to be over $500 M.  Wow.  Groupon is getting all of the attention because of its IPO but LivingSocial seems to be doing pretty well.