Local Business Alert

LivingSocial posts net loss of $650M for 2012

District-based daily deal purveyor LivingSocial posted a net loss of $650 million last year, according to regulatory filings, driven in part by the declining value of several overseas companies it bought in a rabid quest for global expansion.

The loss comes even as the company saw its revenue climb to $536 million last year, more than double the $250 million it raked in the year before. The company posted a net loss of $499 million in 2011.

Read more at:
http://www.washingtonpost.com/blogs/capital-business/post/livingsocial-posts-net-loss-of-650m-for-2012/2013/01/30/70a5a444-6af8-11e2-ada3-d86a4806d5ee_blog.html

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