LivingSocial generated $110 million in first quarter revenues this year, according to a report from Internet Retailer citing an Amazon.com SEC filing. Amazon owns nearly 30 percent of LivingSocial.
Its most recent quarterly performance is representative of torrid growth —Q1 revenues are up more than 168 percent, Internet Retailer says. LivingSocial grew its business by offering more deals — about 21,000 in the quarter, Internet Retailer says — and “diversifying its offerings,” says Unaiz Kabani, a data manager with Yipit, which aggregates daily deals.
Read the full story here.