Friday, July 8, 2011

Living Social to be valued at $15 Billion for $1B IPO

It’s not quite official yet, but CNBC is reporting that Living Social has selected its lead underwriters for an IPO.
Among the most likely is JP Morgan, Bank of America and Deutsche Bank.

The Washington, D.C. based company, which is the second-largest daily deals company after Groupon, is seeking $1 billion at an implied valuation between $10 billion and $15 billion.
Groupon is seeking to raise $750 million in an IPO, which it filed with the SEC in early June.

"it makes sense that LivingSocial does not wait too long behind Groupon's IPO" confirms Rachid Sefrioui, Managing Director of Los Angeles-based Finaventures, "the market window for these two leaders is now, and may not be there a year from now; as we all know timing for an IPO is just as important as quality of the company."
The lead underwriters that LivingSocial is likely to work with do not overlap with the ones leading Groupon’s offering, although there might be some overlap if others join later.

LivingSocial has raised a significant amount of money from Its last round of capital totaled $565 million at a valuation of $3 billion.