More than 50 million users of the daily deals site LivingSocial are being asked to reset their passwords after hackers attacked the company's servers and potentially made off with personal data.
City officials and local tech entrepreneurs weigh efforts to transform the nation's capital into a haven for angel-backed, emerging tech ventures by pointing out the shifting dynamics of the model for funding startup tech ventures, with cloud computing, open source software and other industry trends lowering the cost of setting up a business, potentially diminishing the importance of the traditional venture capitalist. However, this is at odds with a city, that while trying to cultivate this tech hub, is also struggling to improve a public school system so as not to lose the middle-class.
Google and LivingSocial are expanding in the booming shopping discounts market with new acquisitions announced Monday.