LivingSocial Fuels Aggressive Growth Plans With $400 Million in Financing

As expected, LivingSocial has raised $400 million in funding, bringing the company’s total raised to date to more than $600 million. The round included new and existing investors, such as Amazon.com. As we reported on Monday, LivingSocial has added Neil Ashe, former president of CBS Interactive, to its board. LivingSocial now has 26 million members signed up for its daily deals service in 206 markets. It employs more than 1,300 people and expects to reach 400 markets in 2011.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald