After acquiring SocialMedia.com in stock, the numbers about daily coupon e-mail company LivingSocial was revealed. SocialMedia.com will be getting 545,000 shares of common stock in LivingSocial, which is valued at about $3 million. LivingSocial has about 520 million shares outstanding and based on the Series E preferred price of $5.65 per share, it gives the company a $2.9 billion valuation. According to a source with TechCrunch, LivingSocial is hitting $50 million in revenue per month. The company is projecting $1 billion in 2011 revenues. [TechCrunch]
LivingSocial Hitting $50 Million In Revenue Per Month
Categories: LivingSocial.
LivingSocial is huge right now, and they have really hit their stride. Many people are using them to save money with their daily deals and group-buying options.
A great site for consumers to find the best deals and sales in their area is http://www.dailydealpool.com. This site will email you daily with a list of the best buys, ensuring you don't miss out on a great local or online deal.