LivingSocial Co-founder And CEO Tim O'Shaughnessy

LivingSocial Co-founder And CEO Tim O'Shaughnessy

Andrew Harrer/Bloomberg

LivingSocial, led by co-founder Tim O’Shaughnessy, pictured, raised $400 million in April, valuing the company at $3.5 billion, two people with knowledge of the matter said at the time.