LivingSocial Hitting $50 Million In Revenue Per Month

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]

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