Washington – LivingSocial, the social shopping firm that
operates its Daily Deals service in more than 200 markets, is in talks with
potential investors about raising another $500 million in funding, The Wall
Street Journal reported. Bloomberg reported that the company is looking for a
$2 billion valuation.
The news comes three months after the company landed a
$175 million investment from Amazon.com, and two months after Chicago-based
rival Groupon raised $950 million to fuel expansion.
The Journal reported that
LivingSocial is looking to land $100 million each from a handful of marquee
investors, as the company attempts to stay a step ahead of several new upstarts
in the group buying space.
The company said in December it was generating about
$1 million a day in revenue.