LivingSocial Still Puking Money

Everyone's former favorite "daily deals" site from several years ago just posted terrible news for investors: a net loss of $183 million for 2013.

The darker news for the all-but-screwed company is in the details: the Washington Post says LivingSocial will shutter its Washington, DC event space:

LivingSocial began hosting art classes, concerts and cooking classes in the six-story, 120-year-old former insurance building at 918 F St. in early 2012 after spending nearly $4 million to refurbish the interior. It plans to host events there through April before finding a tenant to take over the lease, which ends in January 2017.

Those art classes, concerts, and cooking classes never really gained much traction, and what was supposed to be the initiative that'd make LivingSocial different from every other deals site is now a failure. So, what's next for the company? More... deals.

More recently, LivingSocial has added sections to its Web site where consumers can find long-term deals, as well as coupons and free shipping codes to national merchants such as Dressbarn, World Market and OfficeMax.

Exactly the same kind of deals that dropped off in popularity, leaving LivingSocial in such terrible condition to begin with. Someday soon, LivingSocial's office furniture will make a nice daily deal at a DC auction.