Amazon Purchases Stake in LivingSocial
Amazon Purchases Stake in LivingSocial
As Google continues with negotiations to acquire Groupon for $6 billion, Amazon announced that they have purchased a major stake in LivingSocial, the world's Number 2 social-shopping site, behind Groupon.
Amazon, the world's largest online retailer, confirmed Thursday that it had invested $175 million in LivingSocial. Insiders estimate LivingSocial's market share in the emerging social-shopping sector at 20 percent, placing it a distant second behind Groupon, though the company is on pace to hit $500 million in revenue this year, a figure that would easily justify a valuation of $1 billion.
As Amazon and Google seek entry into this growing market, Groupon and LivingSocial have bben on their own mini-buying sprees, buying up smaller competitors, primarily outside the US, in an effort to expand their marketshares and subscriber lists.
As Google continues with negotiations to acquire Groupon for $6 billion, Amazon announced that they have purchased a major stake in LivingSocial, the world's Number 2 social-shopping site, behind Groupon.
Amazon, the world's largest online retailer, confirmed Thursday that it had invested $175 million in LivingSocial. Insiders estimate LivingSocial's market share in the emerging social-shopping sector at 20 percent, placing it a distant second behind Groupon, though the company is on pace to hit $500 million in revenue this year, a figure that would easily justify a valuation of $1 billion.
As Amazon and Google seek entry into this growing market, Groupon and LivingSocial have bben on their own mini-buying sprees, buying up smaller competitors, primarily outside the US, in an effort to expand their marketshares and subscriber lists.
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