Amazon Fires Another Salvo in Daily Deals Battle
With most speculating that Groupon will soon sell to Google, Amazon has invested $175 million in competing daily deal site LivingSocial. Local markets and internet savvy shoppers only stand to benefit.
D.C.-based daily deal site LivingSocial has procured a $175 million investment from e-commerce giant Amazon.com. The move comes just days after Google unveiled a $6 billion offer on Groupon, by far the biggest player in the deal-of-the-day market. Lightspeed Venture Partners, out of Silicon Valley, invested an additional $8 million in LivingSocial as part of the deal.
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