LivingSocial Raises $110M From Investors
LivingSocial has raised an additional $110 million in funding from some of the company's previous investors, according to a memo from the CEO sent to employees. Those investors have received 7.5% of the daily deals company's equity. The company was worth about $1.5 billion in the recent funding round, less than a quarter its value in December 2011, according to a Bloomberg report. The company also denied a report from research firm PrivCo that it took the investment in the form of debt, saying quotes in that story attributed to a senior executive were "fiction."