Amazon.com Says LivingSocial Lost $558 Million Last Year
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Amazon.com Inc., a backer of LivingSocial, said the daily-deal startup had more than $500 million in losses last year and pegged its stake at $208 million, implying the company’s book value is $671 million.
LivingSocial posted revenue of $245 million in 2011, with $686 million in operating expenses, according to a regulatory filing. Amazon said it owns a 31 percent stake in LivingSocial, the main competitor to Groupon Inc. in the online-coupon market.