Local Business Alert: LivingSocial lost $558 million in 2011

	Wednesday, February 1, 2012 1:37:18 PM LOCAL BUSINESS ALERT LivingSocial lost $558 million in 2011 LivingSocial, the fast-growing daily deals site headquartered in Washington, lost $558 million on revenue of $245 million in 2011, according to a regulatory filing by Amazon, which owns almost a third of the company. The filing is the first glimpse into the financial workings at privately held LivingSocial, which is less than three years old and expected to go public later this year. Amazon reported the numbers in a note detailing its equity investments because it owns 31 percent of LivingSocial, which is the second-largest business in the daily deals space after Groupon. A LivingSocial spokesman declined to comment. t's not surprising for fast-growth companies like Facebook, Zynga and LinkedIn to incur big losses early in their growth cycle. LivingSocial has more than 60 million members worldwide in 647 markets across 25 countries. The company has more than 4,900 employees and is one of the biggest growth companies, in terms of the number of people it hires, in the Washington metro area. Read more at: http://www.washingtonpost.com/business/economy/livingsocial-lost-558-million-in-2011/2012/02/01/gIQAjId3hQ_story.html Or visit PostBusiness.com or Capital Business. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071 ©2011 The Washington Post Privacy Policy