LivingSocial, a social network app developer that allows users to see what kind of books, movies, beer, etc. their peers like, has rasied a $5 million Series A Round led by Grotech Ventures. Joining in: Former AOL CEO Steve Case and his wife Jean.
The various apps run by the company have more than 6.4 million total installs on Facebook, MySpace, Bebo, Hi5 and Orkut. LivingSocial makes money in two ways – one by advertising, and the other through Amazon’s affiliate program: When your friends buy a book, etc because you have, LivingSocial gets a cut. Sounds an awful lot like when Facebook’s Beacon could have been — without the backlash.
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