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 Amazon.com, 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]