![LivingSocial to Announce $200 Million in Funding Next Week [REPORT]](https://helios-i.mashable.com/imagery/archives/05inRVoXp8bZdT5AijckH2x/hero-image.fill.size_1248x702.v1647020426.png)
JP Morgan Asset Management’s new Digital Growth Fund, as well as existing investors Amazon and T. Rowe Price, are among those contributing to the round, "people familiar with the matter" have told CNBC and The New York Times. LivingSocial is also discussing a $100 million revolving credit facility with JP Morgan that would allow the company to draw funds without signing a loan for each withdrawal in the future. The deal is expected to close next week.
The value of LivingSocial's main competitor, Groupon, has jumped to $16.7 billion since going public two weeks ago. Shares closed at $26.19 on Friday, up nearly a third from its starting price of $20 per share. Only 35 million shares, or about 5.5% of total oustanding shares, were offered in the IPO.
The additional capital should give LivingSocial an opportunity to catch up -- and continue differentiating itself -- from its rival. Both companies have launched new offerings recently. Earlier this week, LivingSocial unveiled a restaurant delivery service in the Washington, D.C. region. And Groupon rolled out a set of personalization features that allow businesses to target the subscribers most likely to become repeat subscribers.