LivingSocial Scores Amazon Investment

Dec 07, 2010


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LivingSocial announced a $175 million investment from Amazon, as well as an additional $8 million investment from Lightspeed Venture Partners. According to the company, LivingSocial will use this investment to maintain its worldwide growth efforts and overall business growth.

LivingSocial's service helps users connect with local attractions and is currently used by more than 10 million subscribers across the U.S., Canada, UK, Ireland, and Australia. According to the company, its service currently books revenues of more than $1 million a day, on average, and projects that it will book more than $500 million in revenue in 2011.

(www.livingsocial.com, www.amazon.com)