Sunday, July 10, 2011

LivingSocial Seeks $1 Billion IPO

LivingSocial, the social shopping business, is seeking to raise about $1 billion from an initial public offering, valuing the Web firm at between $10 billion and $15 billion, the Wall Street Journal reports.

The company has chosen three banks—Bank of America Merrill Lynch, Deutsche Bank AG and J.P. Morgan Chase & Co.—as the lead underwriters for the IPO.

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