LivingSocial Moves Closer to $1 Billion IPO
It’s not quite official yet, but CNBC is reporting that Living Social has selected its lead underwriters for an IPO.
Among the most likely are J.P. Morgan, Bank of America and Deutsche Bank.
The Washington, D.C.-based company, which is the second-largest daily deals company after Groupon, is seeking $1 billion at an implied valuation between $10 billion and $15 billion.
Groupon is seeking to raise $750 million in an IPO, which it filed with the SEC in early June.
The lead underwriters that LivingSocial is likely to work with do not overlap with the ones leading Groupon’s offering, although there might be some overlap if others join later.
LivingSocial has raised a significant amount of money from Amazon.com. Its last round of capital totaled $565 million at a valuation of $3 billion.
