LivingSocial Quietly Raises $400 Million To Catch Up With Groupon

Tim O'ShaughnessyTim O’Shaughnessy

Photo: LivingSocial

LivingSocial has quietly raised another $400 million round at a $3 billion valuation, Dealbook reports. Existing investors like Amazon as well as new investors like T. Rowe Price and Institutional Venture Partners participated.LivingSocial seems to be doing very well. It’s approaching $1 billion in revenue and is hot on Groupon’s heels. The company is also hard at work differentiating itself from Groupon with new offerings in travel and mobile.

An interesting fact is that LivingSocial CEO Tim O’Shaughnessy wrote a memo dated June 2012 titled “How LivingSocial Won The Local Commerce Space” describing how the company wants to overtake Groupon. So clearly they’re not content with just being number two in the space.

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