In another validation of the suddenly hot collective buying trend, LivingSocial has landed $25m in Series B funding from a group of investors including US Venture Partners and Steve Case’s Revolution, LLC. But even with new money backing several similar companies, it is still unclear if the latest thing in e-commerce will last for long.
LivingSocial got started as developer of Facebook applications and launched the hugely successful Pick 5 app. But the company seems to have developed a real business with it’s LivingSocial Deals, which offers a deep discount at one restaurant or local business each day to users in a dozen cities. Read more