LivingSocial is reportedly in the process of raising $400 million to support its operations, according to Daily Deal Media. This round of funding could bring the daily deals provider's value to about $6 billion.
In November, when Venture Capital Dispatch, part of Dow Jones & Co., reported LivingSocial would be looking to raise more than the projected $200 million, all major investors were said to be contributing to the round. LivingSocial's investors include Grotech Ventures, Institutional Venture Partners, Revolution LLC, U.S. Venture Partners, Lightspeed Venture Partners, Amazon.com, Inc., and T. Rowe Price Investment Services, Inc.
According to an SEC filing, LivingSocial has sold securities for $176 million of the currently-targeted $400 million. It did not disclose the investors. In April, the company also raised $400 million in a round led by Amazon and Lightspeed Venture Partners and included T. Rowe Price and Institutional Venture Partners. About half of that round went to shareholders.