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LivingSocial Looks to Raise $400 Million – Delaying the Need for IPO

livingsocialLivingSocial revealed earlier today that it is looking to raise $400 million in a round of funding that could value the company at around $6 billion. In an SEC filing the daily deals provider said it has already sold $176 million in securities.

Last month stories were suggesting that LivingSocial might be looking for funding that amounted to substantially more than the $200 million that was initially rumored.

This past April the company raised $400 million in a round led by Amazon and Lightspeed Venture Partners and included T. Rowe Price and Institutional Venture Partners, approximately half of that going to shareholders.

This latest move by the Washington D.C. daily dealer may be a strong indication that there are no plans for the company to go public in the immediate future.

Source: The Wall Street Journal

 

Krissa Ashton

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