LivingSocial Raises $176 Million In Private Offering

Posted Dec 7, 2011

LivingSocial has raised $176 million in a private offering according to an SEC filing. Investors in this round include, U.S. Venture Partners, and Steve Case’s Revolution Ventures, Code Advisors, and JP Morgan oversaw the deal and made $5 million in the process. LivingSocial offered $400 million worth of stock and sold a portion of it. About $224 million of stock still available. The final $224 million is expected to be bought in the next several weeks or months. This round of funding will be used for operations and expansion such as setting up a new company headquarters. [BusinessInsider]