LivingSocial Files To Authorize Up To $565M In Series E [Update: And Raises $400M]
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.