LivingSocial, a Washington, D.C.-based company operating an online source that allows people to find deals related to the best things to do (restaurants, shops, activities and services) in their area, has secured a $175m investment from Amazon (Nasdaq: AMZN) and additional $8m financing from Lightspeed Venture Partners.
The company intends to use the funds to continue to launch worldwide and further expand. Today, the company serve over 10 million subscribers across the U.S., Canada, UK, Ireland and Australia in more than 120 locations.
Recently, the company expanded its business by acquiring adventure company Urban Escapes, and launching three new verticals, including:
– LivingSocial Family Edition,
– Campus Deals and
– LivingSocial Escapes, a travel site that offers savings on curated adventures.
The company has also expanded its reach in Australia with a controlling stake in Jump On It, making it live in five countries.