LivingSocial Raises $400M
by FinSMEs on April 6, 2011
LivingSocial, an international platform that offers every day deals at local restaurants, bars, spas, theaters, and others, has raised $400m from public and private (new and existing) investors.
The proceeds from the investment will be used for domestic and international growth and continued product innovation to introduce new ways to connect members to merchants.
This funding brings the total amount the company has raised to date to over $600m.
In addition, LivingSocial has added Neil Ashe, former President of CBS Interactive, to its Board of Directors.
Led by CEO and co-founder Tim O’Shaughnessy, the Washington, DC-based company operates LivingSocial Escapes, a travel site offering savings on curated adventures, and LivingSocial Family Edition. It also acquired a majority stake in Jump on It, an Australia-based social shopping site.