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LivingSocial Said to Be in Talks With Banks for $1 Billion IPO

LivingSocial, the second-largest website devoted to daily coupons, is selecting investment banks for an initial public offering that may value the company at $10 billion to $15 billion, according to a person with direct knowledge of the talks.

The Washington, D.C.-based company is seeking to raise about $1 billion in an IPO and has had conversations with Barclays Plc, JPMorgan Chase & Co. and Allen & Co. to lead the offering, said the person, who asked not to be named because the discussions are private. LivingSocial also has talked with additional banks for the IPO, which may happen by the end of the year, the person said.