LivingSocial to raise USD 1 bln in IPO - report

News Broadband Global 11 JUL 2011
LivingSocial to raise USD 1 bln in IPO - report
Online coupons site LivingSocial will seek to raise USD 1 billion this year in an initial public offering that will value the company at USD 10-15 billion, two people familiar with the company's plans told the Financial Times. The sale will be managed by Bank of America Merrill Lynch, Deutsche Bank and JPMorgan Chase. A filing with US regulators is expected to come before the end of the year. Neither the company nor the banks would comment. The company last raised USD 400 million in April, giving it a valuation of USD 3 billion. LivingSocial's business model is similar to that of Groupon, which filed its own IPO this year, targeting a valuation of as much as USD 20 billion.

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Internet

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Groupon

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Global

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Advertising services, Financial funding

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