Brilliant Move by LivingSocial.com/Amazon

Amazon recently invested $175mm into the group buying underdog – LivingSocial.com. Of course it must be said that for an underdog, they are still doing extremely well – printing money.

I wondered what the first big move might be to establish themselves after jumping into bed with Amazon. Today I found out – $20 Amazon giftcards for $10. Brilliant. They have now far surpassed the $11mm in gross revenue brought in by chief competitor Groupon during their $25 for $50 Gap deal.

As of now they’re up over 1 MILLION sold. We can now count Amazon’s total investment in LivingSocial to be at least $185mm.

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Posted in Business, Entrepreneurship