![LivingSocial Close To Raising $400M-$500M [REPORT]](https://helios-i.mashable.com/imagery/archives/03j2FWR43JUq9Jbr2KSNG7m/hero-image.fill.size_1248x702.v1647019706.png)
Citing two sources "with knowledge of the talks," Bloomberg said that the sum is approaching $400 million, which would situate the company's value north of $2 billion. The Wall Street Journal's sources say the figure is closer to $500 million.
LivingSocial disclosed that, as of December, its deals were bringing in more than $1 million per day in gross sales and that it expects to generate $500 million in revenue in 2010. The company has raised $232 million to date.
Chief rival Groupon raised $950 million in a Series D round of funding in January, a little more than a month after it rejected a $6 billion acquisition offer from Google. The three-year-old company has raised $1.1 billion thus far.
Both companies offer daily discounts on local businesses, such as salons and restaurants (and, increasingly, national and international businesses), via the web, e-mail and a suite of mobile applications. Lately, companies as diverse as Zagat and The New York Times have launched their own one-offs of the daily discounts model.