Washington – Days after reports surfaced that Google was on
the verge of acquiring Groupon at a $5 billion valuation, rival LivingSocial
reportedly is about to counter with a major investment from Amazon (NASD: AMZN). The
company, which operates its Daily Deals services in more than 120 markets, is
in advanced talks to receive an investment of up to $150 million from the online
retail giant, All Things D reported, citing "sources close to the
situation."
The deal also reportedly would include am operating
partnership between the two companies. LivingSocial boasts more than 10 million
subscribers, and expects to generate revenue of $100 million this year.
The
Washington Post reported that the deal could be announced as early as Thursday.
LivingSocial has raised $49.2 million since March from investors including U.S.
Venture Partners, Grotech Ventures, Lightspeed Venture Partners and Steve
Case’s Revolution.
Related Links:
http://tinyurl.com/2bcfntn
(All Things D)
http://tinyurl.com/272zknb
(Washington Post)
