Amazon.com looks to counter Google's Groupon deal with investment in LivingSocial
Groupon getting it on with Google (Groupoogle?) is turning out to be a sizzling deal for one of its top rivals.
LivingSocial, the Washington, D.C., social commerce company that competes with Groupon in the local deals space, is in talks to take a major strategic investment from Amazon.com that would give it a valuation of several billion dollars, reports All Things D's Kara Swisher. (Venture Beat's Owen Thomas was the first to report on investment rumors.)
Interest in LivingSocial is soaring with Google offering $6 billion in cash and earnouts to buy Groupon. LivingSocial has 10 million subscribers in more than 120 markets and five countries, and it’s booking an average of $1 million plus a day.
Amazon.com does not have much of a toehold in daily deals. In June, it bought Woot, which offers a deal a day, for $110 million. Best part of that deal: The blog post from Woot.com Chief Executive Matt Rutledge.
-- Jessica Guynn