Amazon Invests $175 Million In LivingSocial

December 2, 2010

6:38 pm

The last two weeks have been filled with the updates on the Groupon acquisition by Google. We figured an acquisition of Groupon would shift attention to top competitor LivingSocial. Today LivingSocial continued to trek on as they look to grow just as aggressively as Groupon and announced that it has secured a $175 million investment from Amazon, and has also received an additional $8 million investment from Lightspeed Venture Partners. LivingSocial has been making lots of moves lately which included acquisitions and new product verticals. It also was interesting that Amazon came in a close second place in our readers’ poll recently when we asked: Who will buy Groupon? Maybe our readers were on to something as this investment shows definite interest in the daily deals business, in this case LivingSocial.

According to LivingSocial representatives, they will use this investment to maintain a steady drumbeat of worldwide market launches and overall business growth while continuing to serve more than 10 million subscribers across the U.S., Canada, UK, Ireland and Australia in more than 120 markets.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups. Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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