Of course, as we all know, LivingSocial has raised plenty of money. However, “Raising money is a means to an end and not a success, in and of itself,” according to Tim. Instead, it is the operational work, from building out HR and securing office space to time zone challenges and communication hurdles. This is the unsexy part of startup life, yet it is the core of any successful business, no matter what stage it is in. O’Shaughnessy went on to describe how scaling as quickly as LivingSocial has can challenge even the most well-planned companies. Even though the company was founded in 2007, O’Shaughnessy says, “We’re still a giant startup. We don’t have everything figured out yet.” Watch Tim O’Shaughnessy discuss the iterations that led to LivingSocial with Tech Cocktail’s CEO and Co-founder, Frank Gruber, in the video below.
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