LivingSocial Could Be Worth $3.5 Billion

LivingSocial has proved to be Groupon's most formidable foe. This week, TechCrunch confirmed the company's plans to raise up to $565 million in Series E financing. One hundred million shares will be authorized at $5.65 per share. TechCrunch says that LivingSocial's amended Certificate of Incorporation form confirms that the company is allowed to raise funds, and that it has already raised $400 million from existing investors, which include Amazon AMZN, Lightspeed Ventures, T. Rowe Price, and Institutional Venture Partners. But the most interesting bit of info that TechCrunch provides is that LivingSocial could be valued at over $3.5 billion – a massive increase over the $1 billion valuation that the company a received a few months ago.