LivingSocial's co-founder and Chief Technology Officer, Aaron Batalion, has decided to leave the company behind in pursuit of something new. Batalion had been with LivingSocial since its creation back in 2007. Back then, LivingSocial was comprised of only 4 members, a number that grew to about 4,000 today. Batalion doesn't have any idea of what he wants to do next, but that he has an "urge to create".
LivingSocial has become an extremely popular deals site, however it has been struggling to make a profit since its debut. Last month, the company was granted an additional $110 million by its investors, which the company was supposed to use to, "build our reserves, solidify our long-term plans, and execute against our vision for the future," according to LivingSocial's CEO, Tim O’Shaughnessy.
The company's goal is to make a profit this season. The additional money granted to it by its investors was supposed to be a morale boost for the company and its employees, however it's demoralizing to see one of the company's co-founders leave. Questions start being raised about whether or not LivingSocial was able to utilize that money in an efficient way to drive the company towards a more profitable future.
According to LivingSocial, the company has yet to appoint a new CTO. Batalion also wrote in his blog post that he came to his decision after much "soul-searching". He states the is proud of LivingSocial, and that the experience he had with the company and the friendships he developed "have been the best of my career". He is "confident in LivingSocial's future and the vision of local we have all been fighting for."