Social-buying brand will use money to accelerate domestic and global expansion.
LivingSocial has $400 million in new funding, the daily deals platform confirmed with ClickZ this morning.
While The Wall Street Journal reported Lightspeed Venture Partner, Amazon.com, and Institutional Venture Partners were the investors behind the sum, LivingSocial wouldn't disclose its backers.
Maire Griffin, spokesperson for the Washington, DC-based company, said via email, "LivingSocial did secure $400 million in investment bringing the company’s total investment raised to more than $600 million. We are respecting the policy of our investors not to reveal their names, but the round does include a mix of world-class public and private investors, which includes new and existing investors.
Griffin added, "LivingSocial will use this investment to carry on its aggressive domestic and international growth and continued product innovation."
LivingSocial and competitor Groupon are the clear marketplace leaders in a burgeoning space involving around 200 deals-based brands. Todd Chafee, a general partner with Institutional Venture Partners in Menlo Park, CA, told the Journal that LivingSocial is adding about 1.5 million new members each week. In total, he said it has 26 million members in 250 markets in 12 countries.
Last month, BIA/Kelsey found that the group-buying/daily deals niche would balloon to $4 billion by 2015. In 2010, the Chantilly, VA-based company's research said the daily deals services captured $873 million. If correct, its projections indicate a 35 percent compound growth rate during the next four years.
Want to learn more?
Attend ClickZ Live New York March 30 - April 1. With over 15 years' experience delivering industry-leading events, ClickZ Live brings together over 60 expert speakers to offer an action-packed, educationally-focused agenda covering all aspects of digital marketing. Register today!
Christopher Heine was a senior writer for ClickZ through June 2012. He covered social media, sports/entertainment marketing, retail, and more. Heine's work has also appeared via Mashable, Brandweek, DM News, MarketingSherpa, and other tech- and ad-centric publications. USA Today, Bloomberg Radio, and The Los Angeles Times have cited him as an expert journalist.
Singapore, 5-6 March
Bangkok, 17-18 March
Hong Kong, April 2015
A Buyer's Guide to Affiliate Management Software
Manage your performance marketing with the right solution. Choose a platform that will mutually empower advertisers and media partners!
Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.
March 24, 2015
12:00pm ET/9:00am PT