Groupon Competitor LivingSocial Raises $400M of $500M Series E Round — Reports

Groupon competitor LivingSocial has raised $400 million in a round that values the daily deal site at more than $3 billion, according to an April 4 report in the New York Times‘ DealBook blog. The round was completed last week and included existing investors Amazon and Lightspeed Venture Partners and new investors T. Rowe Price and Institutional Venture Partners, DealBook reported.

DealBook cited “two people close to the company who spoke on the condition of anonymity because talks were private.”

The round appears to be part of a $500 million Series E round being raised by LivingSocial. According to a report by VC Experts, LivingSocial’s holding company, Hungry Machine Inc., has authorized the sale of more than $500 million worth of new “Series E Convertible Preferred Stock.” The VC research firm cited a March 31 regulatory filing.

VC Experts reports that if the Series E round is fully subscribed, it would value LivingSocial “as high as $3 billion, based on LivingSocial’s 630 million authorized common shares.”