Local.com Launches Daily Deals Site (LOCM, TZOO, SPMD)

Local.com Corporation LOCM announced this morning that it would be launching Spreebird.com, a daily deal site, that will allow the company to compete with Groupon, Travelzoo TZOO, SuperMedia Inc SPMD and other daily deal websites. According to the company's press release, Spreebird will allow consumers to: * An easy way to find great deals on products and services that match their personal tastes and interests in one place * A compelling and cost-saving way to discover new local businesses * The ability to share their favorite deals with friends and family across their social networks “Our goal is to build Local.com into the leading online local media company. Over the past five years, we have built significant assets in this sector, which form the cornerstone of our future growth strategy,” said Heath Clarke, Local.com chairman and CEO. “We're now heavily focused on expanding our product range. We believe that Spreebird provides us with a significant long-term opportunity to diversify our revenues into the high-growth deal of the day local advertising segment.” “Spreebird's mission is to provide consumers with the best daily deal discovery service on the Web, while providing local merchants with a highly desirable way to bring new customers directly to their cash register,” said Malcolm Lewis, Local.com senior vice president and general manager, social buying. “We plan to leverage Local.com's many assets to achieve our goal of establishing Spreebird as a top daily deal site.” At last check, shares of Local.com were off 6 cents to $4.80, after having started the day sharply higher, at $5.08.