Reports of daily deals site LivingSocial being in talks to raise around $500 million in Series E are now backed up by LivingSocial’s amended and restated Certificate of Incorporation filed on March 31st and unearthed today by the VCExperts blog. The form shows that Hungry Machine Inc, the holding company for LivingSocial, has filed an intent to raise up to $565 million in Series E financing, with 100 million shares authorized, at $5.65 a share.
The amended Certificate of Incorporation form confirms that the company is allowed to raise the funds, but doesn’t necessarily mean that it already has the money in its coffers. I wouldn’t be surprised if we come across the round’s SEC Form D sometime soon.
As LivingSocial has 630 million authorized common shares, this could value the company at over $3.5 billion, a stark jump from its one billion valuation back when it received the Amazon and Lightspeed Ventures $183 million investment in January. LivingSocial has also raised $49 million from Revolution Fund, Grotech Ventures and U.S. Venture Partners in addition to $2.9m two weeks ago, which makes its total (confirmed) funding to date $232 million.
Representatives from LivingSocial would not provide official comment on the news.
Update: The New York Times is reporting that the total amount of the funding was $400 million from existing investors Amazon, Lightspeed Ventures, T. Rowe Price as well as Institutional Venture Partners.
LivingSocial is the social commerce leader behind LivingSocial Deals, a group buying program that invites people and their friends to save up to 90 percent each day at their favorite restaurants, spas, sporting events, hotels and other local attractions in major cities. LivingSocial has an extensive user base of more than 85 million, and is headquartered in Washington, D.C.
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