LivingSocial Valued at $3 Billion

Groupon gets most of the ink when it comes to discussion of local shopping deals, but LivingSocial is also a formidable presence. LivingSocial offers many of the same kinds of local deals as Groupon, but the LivingSocial has also tried to separate itself from its competitor by expanding into other types of discounts, including travel packages and instant mobile offerings.

There are plenty of believers in LivingSocial. The company raised $400 million from VC and other firms in April, putting the company’s value at $3 billion, according to the New York Times. Amazon has become a big investor in LivingSocial. Amazon invested $150 million a few months ago, and they participated again in the recent round of financing.