LivingSocial Picks Its IPO Bankers

LivingSocial cofounder and CEO Tim O'Shaunessy

LivingSocial appears to be the next big tech company to hit the public markets.

CNBC’s Kate Kelly reports the daily deals site has picked Bank of America, JP Morgan, and Deutsche Bank. Kelly notes that Goldman and Morgan Stanley, which are on the Groupon IPO, aren’t on this one.

LivingSocial will be aiming to raise $1 billion and get a valuation of around $15 billion.

When it files, it will be fun to look at the S1 to see how it compares to Groupon.

Groupon’s filing has been getting trashed. If LivingSocial thinks it has better financials, with fewer questions, maybe it wants to rush out an IPO and steal some of Groupon’s thunder.

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