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Amazon Takes a Taste of LivingSocial

Rick Aristotle Munarriz
December 3, 2010 (Nasdaq: AMZN  ) is getting in on the social coupon fun.

The leading online retailer is investing $175 million for an undisclosed stake in LivingSocial. As the distant second-place runner in a niche that Groupon dominates, LivingSocial cranks out daily deals for eateries, spas, and leisurely outings.

Amazon's press release claims that LivingSocial is booking revenue of more than $1 million a day on average, and targeting $