Friday, December 03, 2010

Business & Technology | Amazon invests $175 million in LivingSocial | Seattle Times Newspaper

I’m starting to wonder if Groupon is going to pull a PointCast (snatch defeat from the jaws of victory)

LivingSocial, a website that offers daily deals on everything from local plays to pedicures, is turning to Internet giant Amazon.com to help it take on bigger rival Groupon.

LivingSocial said Thursday it will use a $175 million investment from Amazon to fuel its growth in an increasingly lucrative part of the e-commerce market.

The privately held company, based in Washington, D.C., has more than 10 million customers who receive daily e-mail alerts about limited-time deals at local establishments in more than 120 cities across five countries.

Business & Technology | Amazon invests $175 million in LivingSocial | Seattle Times Newspaper

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