The acquisition of Spain-based peer Let's Bonus for an undisclosed amount makes LivingSocial active in 10 countries with more than 16 million subscribers providing an expected $500m in turnover this year.
LivingSocial, a US-based online deals site backed by online retailer Amazon, has acquired a majority stake in Spain-based peer Let’s Bonus for an undisclosed amount.
Let’s Bonus offers consumers deals in Spain, Italy, Portugal, Argentina and Mexico. The acquisition makes LivingSocial active in 10 countries with more than 16 million subscribers providing an expected $500m in turnover this year.
Tim O’Shaughnessy, chief executive and co-founder of LivingSocial, said: "The addition of Let’s Bonus to the LivingSocial team is a…
