Local Business Alert

LivingSocial receives $110 million in new funding

District-based daily deal company LivingSocial, which lost more than half a billion dollars last year, has received $110 million in new funding from its investors, according to a memo to employees obtained by The Washington Post.

"This investment is a tremendous vote of confidence in our business from the people who know us best, our current board members and investors," LivingSocial chief executive Tim O'Shaughnessy said in a memo to his staff.

Read more at:
http://www.washingtonpost.com/business/economy/livingsocial-receives-110-million-cash-infusion/2013/02/20/618163ea-7b79-11e2-9a75-dab0201670da_story.html

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