Living Social, the second largest daily deal company behind Groupon.com, has just blown the doors off with today’s deal, a $20 Amazon gift card for $10. The gross revenue has almost reached $5 million and there are still about 20 hours left to go in the one-day deal.
Living Social has been making headlines over the past few weeks with an aggressive strategy. In December, they received a $175 million investment from Amazon. At the beginning of the year they cut all ties with their affiliate deal aggregators. Today we are seeing what Jeremy Liew of Lightspeed Ventures (one of Living Socials’ financial backer’s) refers to as “the first step of operational integration” resulting from the Amazon investment.
I can’t wait to see what’s coming next.
