Washington – In the largest deal to date in the social
buying space, LivingSocial on Wednesday sold 1.3 million Amazon.com (NASD: AMZN) gift cards.
The nationwide deal charged $10 for a $20 certificate from Amazon, the online
retail giant that six weeks ago invested $175 million in LivingSocial.
TechCrunch reported that the approximately $26 million in card value blew away
the previous largest deal in the space, a Groupon deal for The Gap that
produced $11 million in card value.
Responding to reports of a glitch in its
system that may have allowed some people to exceed the limit of one card per
customer, CEO Tim O’Shaughnessy told Silicon Alley Insider, "In short,
there is no widescale problem of users purchasing more than one gift card