Aaron Batalion, the co-founder and CTO of daily deals site LivingSocial, is leaving the company. He announced his departure in a post on his personal blog published Friday afternoon.
We’ve reached out to Batalion for more details on his exit and his plans for the future, and will update with anything we hear. For now, here is the full text of his blog post:
“Moving on to new adventures…
What an incredible journey it has been since June of 2007, when the four of us knew only our direction, but definitely not our destination. After much soul searching, I have decided to leave LivingSocial to pursue some new ideas. No new adventure to announce yet, just a urge to go create… that there is more to do.
As I look back today, we have processed billions in commerce transactions and have sent tens of billions of emails on technology we created. We took a simple two-week prototype and scaled it to an international business with thousands of fellow employees around the world. We built a culture I am proud of and millions of consumers around the world have experienced their local cities because of our products. More importantly, we created an incredible team with many more strong moves yet to come. Knowing this makes me confident in LivingSocial’s future and the vision of local we have all been fighting for.
I am incredibly proud of what the team has accomplished to date and have been so fortunate to play a role in this amazing journey. My decision to depart has in no way been easy. The experience and, most importantly, the friendships… have been the best of my career.
Always live hungry,
Aaron”
Batalion’s departure comes just one month after LivingSocial raised $110 million in a massive new round of funding. The company has raised more than $800 million since it was founded in 2007. It’s been a complicated road in some ways lately for the company, which laid off some 400 staffers back in November. While LivingSocial’s 2012 revenue was $536 million, but the company has yet to hit profitability, posting a net loss for the year of $650 million.
The fresh funding secured in February (which was raised at a $1.5 billion valuation) is sure to kick off some new projects for LivingSocial in the months ahead, but it seems that one core member of LivingSocial’s team will not be a part of them.
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