LivingSocial Secures Much Needed Funding

LivingSocial has raised $110 million in additional funding from existing investors, according to a report in the Washington Post citing a staff memo written by CEO Tim O’Shaughnessy.

LivingSocial has raised $110 million in additional funding from existing investors, according to a report in the Washington Post citing a staff memo written by CEO Tim O’Shaughnessy.

LivingSocial has been struggling as the daily deals market weakened. It laid off 10 percent of its workforce in November, but framed the move as a first step toward long-term profitability.

The memo announcing the funding said the investors and board had reviewed the company’s plans and were giving them a vote of confidence.

LivingSocial has, like Groupon, expanded

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in