Amazon has traditionally avoided corporate venturing but after becoming a limited partner in venture capital (VC) firm Kleiner Perkins Caufield & Byers's $250m sFund for social media deals it has taken a stake in discount coupon company LivingSocial.
Online retailer Amazon has invested $175m for a strategic stake in discount coupon company LivingSocial.
Amazon has traditionally avoided corporate venturing but in October became a limited partner in venture capital (VC) firm Kleiner Perkins Caufield & Byers’s $250m sFund for social media deals.
LivingSocial said it was booking revenues of more than $1m per day on average from its 10 million subscribers and was expecting turnover of more than $500m next year.
Tim O’Shaughnessy, chief executive of LivingSocial,…
