Amazon Reports LivingSocial’s Financials
In 2011, LivingSocial lost $558 million and they raised $176 million from investors like Amazon.com, U.S. Venture Partners, Revolution Ventures, Code Advisors, and JPMorgan. Amazon.com filed a 10-Q recently, which reveals LivingSocial’s financials. LivingSocial reported an operating loss of $96 million last quarter on revenues of $138 million.
Amazon has a 29% stake in LivingSocial. The good news is that LivingSocial’s revenues are up 133% on year-over-year. Operating losses shrank 27%.
Groupon is expected to generate $578 million in revenue for the June quarter and $73 million in operating income.