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Amazon Invests $175 million in LivingSocial

7:19 pm on Dec 3, 2010 (gmt 0)

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Amazon Invests $175 million in LivingSocial [kara.allthingsd.com]
Amazon will invest $175 million in LivingSocial, the No. 2 player in the fast-growing social buying space.

The online retail giantís big bet on the Washington, D.C.-based start-up comes in the wake of ongoing acquisition talks between Google and Groupon, the category leader in the local deals business.

While it appears to be a reaction to those discussions, sources said Amazon and LivingSocial have been talking for some time about a variety of deals between them.

Sources said the Amazon investment put a very hefty valuation of over one billion dollars on LivingSocial.

6:33 am on Dec 11, 2010 (gmt 0)

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Dot-com bubble time again!

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