LivingSocial Raises $400 Million Dollars, Continues Expansion Into New Markets

LivingSocial just announced it has secured $400 million in investment from a mix of world-class public and private investors, which includes new and existing investors. This round brings the company’s total investment raised to more than $600 million. LivingSocial will use this investment to carry on its aggressive domestic and international growth and continued product innovation. You gotta love that LivingSocial isn’t just conceding to Groupon, this should be a hell of a fight and ultimately get even better deals for you guys as they battle this out.

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LivingSocial currently has 26 million members in 206 daily deal markets and 46 Family Edition markets. The company has filled nearly 200,000 room nights through LivingSocial Escapes, more than doubled its country count with the acquisition of Let’s Bonus and secured its technological stronghold with the acquisition of Ruby/Rails leader InfoEther. One of the fastest growing companies of all time, the local commerce expert employs more than 1300 employees.

Recently, LivingSocial launched a breakthrough in local commerce with Instant Deals in Washington, DC. Instant Deals helps consumers discover immediate deals at restaurants and attractions within a .5 mile radius via their LivingSocial mobile application and gives merchants the flexibility to drive business when they need it most. The company will be rolling Instant Deals out to other markets in the coming weeks.

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