Taking an additional web page from Groupon, the day-to-day offer website LivingSocial is transferring toward the community markets.
The firm is speaking to bankers this week, which includes Morgan Stanley and Deutsche Bank, over a feasible preliminary community offering, a single individual briefed around the make a difference informed DealBook on Tuesday. The start-up, which raised $400 million from traders in April, is anticipated to go community this year, based on two individuals near for the firm, who spoke on problem of anonymity simply because they have been not authorized to converse publicly. The providing is anticipated for being $700 to $1 billion and worth LivingSocial at roughly $10 billion to $15 billion.
LivingSocial's dance with Wall Street's bankers arrives around the heels of Groupon's I.P.O. filing, which was submitted earlier this month. though LivingSocial is much less than half the sizing of Groupon, which employs far more than 7,000 people, the start-up continues to be developing rapidly. In an job interview in April, the company's chief executive, Tim O'Shaughnessy, informed DealBook that he anticipated LivingSocial to report about $1 billion in income this year. Its traders consist of Amazon.com, Lightspeed endeavor Partners, T. Rowe selling price and Institutional endeavor Partners.
Founded in 2007, LivingSocial at first established interpersonal functions for Facebook. But right after acquiring BuyYourFriendADrink.com, a advertising assistance to the alcoholic beverage business in 2009, it started out to concentrate on nearby e-commerce. close to the identical time, Groupon's day-to-day deals have been beginning to take-off in market segments like Boston and Chicago.
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