LivingSocial Gets a Much-Needed $110 Million Boost
LivingSocial Inc. recently raised $110 million from existing investors, giving its coffers a much needed boost after the daily-deals company’s 2012 losses widened by 30 percent last year.
Chief Executive Tim O’Shaughnessy announced the investment in a memo to employees Wednesday. “This new investment round will allow us to dedicate the resources we need, while also building a significant cash reserve against unanticipated events or bumps in the road,” he said in the memo.
