Washington, DC – In a move that could allow the DC-based company to push back plans for its initial public offering (IPO), daily deals giant LivingSocial has raised the first $176 million in a round of equity funding the company plans to cap at $400 million, according to a filing with the Securities and Exchange Commission (SEC).
A total of 55 investors have so far taken part in the round, which values the company at $6 billion, according to The Wall Street Journal.
The latest news comes eight months after LivingSocial also raised $400 million in a round that reportedly included participation from Amazon, Lightspeed Venture Partners, T. Rowe Price and Institutional Venture Partners.
Groupon, the company’s chief competitor in the daily deals space, last month raised $700 million in its IPO, and there has been widespread speculation that LivingSocial would follow suit in the coming months.
This article was also published in Potomac Tech Wire.
Related links:
SEC filing – http://tinyurl.com/6nt5mrw
Wall Street Journal – http://tinyurl.com/7bdf5n6
Photo of Jackson and Min from Livingsocial by Flickr user justgrimes, used under Creative Commons license
