Amazon Led LivingSocial's Last Round With A $56M Investment; Daily Deals Site Had A Net Loss Of $50M This Past Quarter

Daily deals company LivingSocial continues to face challenges in the market. In the last quarter it posted sales of $135 million, up 23% on a year ago, but it also swung to a net loss of $50 million, from net income of $156 million in Q1 2012. The numbers were revealed in a 10-Q filing from one of its key investors, Amazon, in line with its?Q1 earnings reported on Thursday.

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