Amazon Takes a Taste of LivingSocialhttp://www.fool.com/investing/high-growth/2010/12/03/amazon-takes-a-taste-of-livingsocial.aspx Rick Aristotle Munarriz
December 3, 2010
Amazon.com (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 $