LivingSocial seeks to raise $200 million: NYT

Sat Nov 19, 2011 1:30pm EST

Related Topics

(Reuters) - LivingSocial, the online deal provider, is looking to raise nearly $200 million from new and old investors, the New York Times reported on Friday.

The company is also considering a credit facility worth about $100 million, the paper said, quoting two unnamed sources who said they had been briefed on the transaction.

The injection of cash, which is expected to close next week, would give the company a value of more than $5 billion, the paper said, quoting one unnamed source.

That would give the online deals company more flexibility as it attempts to take on chief rival Groupon, which went public earlier this month.

(Reporting by Julie Steenhuysen in Chicago, Editing by Sandra Maler)

FILED UNDER: