Sources tell Reuters that LivingSocial could be the next tech company to file for an initial public offering. LinkedIn and Pandora have already gone public, and LivingSocial competitor Groupon has filed for its IPO with the SEC. Facebook is rumoured to have plans to file in the fourth quarter of this year.
The second largest social deals site in the US, after Groupon, LivingSocial is poised to make a splash, especially if its financials look better than those of the market leader. More information will obviously be available when the filing occurs. Here’s what we know so far:
1. Sky-high valuation: LivingSocial’s valuation could reach as high as $15 bn.
2. Filling the coffers: according to sources, Reuters reports that LivingSocial is looking to raise $750 mn in an IPO.
3. Many, many served: LivingSocial has 39 million members, who use the site for discounts on ‘restaurant dining, lodging and other items’. The company’s revenue comes from the merchants that offer up the discounts.
4. Expected success: the social deals site anticipates $1 bn in revenue for this year.
5. Big exits: back in April, LightSpeed Venture Partners and Amazon were among the participants in a $400 mn round of financing that led to an implied value of $3 bn.
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