LivingSocial CEO Provides More Details On $110M Funding Round, Company Now Valued At About $1.5B

More details have emerged about LivingSocial's new $110 million funding round announced yesterday. In response to a blog post characterizing the raise as an emergency round of debt financing, LivingSocial CEO Tom O'Shaugnessy issued a new memo to employees clearing up some misconceptions about the raise. The key takeaway? Yes, it was a down round, it was not an "emergency debt infusion."

Source: http://feedproxy.google.com/~r/Techcrunch/~3/YXj0CbyWvvM/

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