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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.