×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: LivingSocial | internet

LivingSocial Said to Get Funding Valuing It at $6B

Wednesday, 07 December 2011 04:47 PM EST

LivingSocial is raising $400 million in a deal that doubles the valuation of the daily deals service from its last fundraising round in April, according to a person familiar with the matter.

LivingSocial, the second-largest daily deal company in the U.S. behind Groupon Inc, disclosed the new fundraising round in a filing with the Securities and Exchange Commission on Wednesday.

According to the filing, LivingSocial has raised $176 million, with plans to raise $400 million in total. The company did not disclose the investors, or the valuation, though a person familiar with the matter said the company's valuation was roughly $6 billion.

LivingSocial was planning to go public earlier this year in an IPO that may have raised about $1 billion at a valuation of $10 billion to $15 billion. In the summer, the company picked Bank of America Merrill Lynch, JP Morgan and Deutsche Bank to lead-underwrite the IPO.

However, the stock market slumped in July and August, putting a lot of IPOs on hold. Groupon finally went public in early November, but the company's shares have slumped below its $20 IPO price in recent weeks.

The New York Times reported last month that LivingSocial was aiming to raise $200 million at a valuation of more than $5 billion.

In April, LivingSocial raised $400 million in a round of funding that included LightSpeed Venture Partners and Amazon.com, giving it a value of about $3 billion.

Online retail giant Amazon.com Inc is also an investor in LivingSocial.

© 2024 Thomson/Reuters. All rights reserved.


InvestingAnalysis
LivingSocial is raising $400 million in a deal that doubles the valuation of the daily deals service from its last fundraising round in April, according to a person familiar with the matter.LivingSocial, the second-largest daily deal company in the U.S. behind Groupon Inc,...
LivingSocial,internet
314
2011-47-07
Wednesday, 07 December 2011 04:47 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved