LivingSocial Said to Near Naming JPMorgan as One of IPO Banks

LivingSocial, the second-largest daily-coupon site, is close to hiring JPMorgan Chase & Co., Bank of America Corp. and Deutsche Bank AG to manage its initial public offering, a person with knowledge of the talks said.

The Washington, D.C.-based startup is expected to make a formal appointment in the next three weeks, though negotiations with any of the banks could fall through, said the person, who asked not to be identified because the talks are private.