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, according to a 10-Q filing from Amazon today, made after Amazon reported quarterly earnings yesterday. The report, spotted first by the Washington Business Journal, also reveals that Amazon was the majority investor in the $110 million round earlier this year, putting in $56 million of that sum.

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