January 6, 2011, 4:12 PM

LivingSocial hires a former Walmart.com exec as chief financial officer

John Bax joins the daily deal company after it receives a big investment from Amazon.

Lead Photo

John Bax

Daily deal company LivingSocial has hired a former executive of Walmart.com as chief financial officer.  John Bax held a similar job for the e-commerce operation of the world’s largest retailer.

LivingSocial, one of the main rivals to Groupon Inc., which also sells online discounts and coupons for local and some national retailers, last month received a boost from the world’s largest Internet retailer, Amazon.com. Amazon, No. 1 in the Internet Retailer Top 500 Guide, invested $175 million in LivingSocial while the e-commerce world waited for confirmation that Google would spend up to $6 billion for Groupon. That deal never materialized.

Most recently, Bax worked as chief financial officer for RecycleBank, a New York-based company that operates a merchant-funded rewards program; consumers can earn rewards points by recycling household goods. Before that, Bax was chief financial officer of Sentient, a private travel firm. His experience as Wal-Mart, No. 6 in the Internet Retailer Top 500 Guide, came prior to Sentient. Besides the e-commerce job, he also had worked as vice president of planning and analysis for Wal-Mart Stores.

"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," says Tim O'Shaughnessy, CEO and co-founder of LivingSocial. "We are confident he will contribute to our company's continued growth and stability."

In another indication of the sudden influx of cash to the leading social deal sites, Groupon last month hired its first chief financial officer, Jason Child, who had worked as vice president of finance for Amazon’s international business. Groupon, after turning down Google last month, raised $500 million in a private funding round that the company says could ultimately total $950 million.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Bart Schaefer / E-Commerce

Applying back-to-school lessons to holiday e-mail strategy

It’s time to begin holiday “drip” campaigns that send a sequence of messages to consumers, ...

FPO

Shawn Aguilar / Mobile Commerce

Six mobile tips for the holidays

Mobile apps, location-based beacons and deep links are some of the tools at a retailer's ...

Advertisement