AfterDawn: Tech news

Amazon to invest $100 million in LivingSocial

Written by Andre Yoskowitz (Google+) @ 18 Nov 2010 18:22

Amazon to invest $100 million in LivingSocial VB has posted today that giant e-tailer Amazon is set to invest $100 million in daily-deal site LivingSocial.
The "strategic investment" talks are underway, but there is nothing set in stone.

Daily-deal sites have boomed in the past year thanks mainly to the popularity of market leaders Groupon and Living Social.

All daily-deal sites offer discounts on products, services, activities, and meals from merchants, small and large.

Amazon currently has a foundation in the deals business, as it purchased Woot earlier this year.

Living Social raised money in March and April, but more investment would lead to a larger expansion into new cities and even new countries.

Just last month, Groupon was valued at over $3 billion.

Previous Next  
Comments have been disabled for this article.

News archive