Living Social Hires a New CFO, Prepares for a Thrilling Year Ahead
LivingSocial, a leading social shopping site, today announced the appointment of John Bax as its new chief financial officer. He will supervise aspects of financial planning and operations management for the company.
“We’re excited to bring John’s fantastic track record and diverse background in all things financial to the team, as well as a solid reputation among the financial community and a deep understanding of LivingSocial’s business,” said Tim O’Shaughnessy, CEO and co-founder of LivingSocial.
“We are confident he will contribute to our company’s continued growth and stability, having already played a crucial role in our biggest round of funding to date from Amazon.”
Bax is a veteran in the finance industry, having served as CFO at Recycle Bank and Sentient, as well as holding two senior leadership roles at Walmart, as vice president of planning and analysis for Wal-mart stores and chief financial officer of WalMart.com.
“I’m looking forward to utilizing my financial background with a variety of retail brands to help LivingSocial members save money and introduce new customers to local merchants to drive sales,” said John Bax, CFO of LivingSocial. “I’m excited to join LivingSocial’s talented executive roster. The social shopping space is just starting to heat up and I believe we’re in prime market position to level the playing field in 2011.”
LivingSocial’s appointment of a new CFO seems to follow in the footprints of Groupon, which recently brought in Jason Child for the same role into their company. It’s also a bit ironic considering that Child came from Amazon, which funded LivingSocial in a whopping $175 million round. The new addition at LivingSocial is an earmark for the growing industry both LivingSocial and Groupon are member to, gaining all the more attention after Groupon rejected Google’s $6 billion acquisition offer, which would have have been Google’s biggest if it ever came to materialize.
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