LivingSocial Raises Another $5 Million From Case, Others
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Social app developer LivingSocial has raised an additional $5 million in funding, a spokeswoman tells us. The round was led by Grotech Ventures, AOL (NYSE: AOL) Founder Steve Case and his wife, Jean. LivingSocial CEO Tim O’Shaughnessy, who previously led the consumer products team at Case’s Revolution Health, also participated in the round.
SEE ALSO: Social App Developer LivingSocial Gets $5 Million First Round
The company’s apps include its flagship LivingSocial, which lets users indicate and share favorite things, like albums, books, and restaurants. It counts 3.7 million monthly active users on Facebook alone. Another product, LivingSocial Deals, sends out local deals daily to subscribers and encourages them to share details; deals only go into effect when enough people agree to buy a product.
With the new cash—which is being used to expand the deals service—LivingSocial will have raised $10 million. The company last raised funds in July 2008, when it received $5 million, also from Grotech and the Cases.
Posted In: Advertising, Daily Deals, Local, Money, M&A & Venture Capital, Venture Capital, Social Media, Community, Companies, Facebook, grotech ventures, jean case, livingsocial, steve case
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