Beijing on April 16th news, according to foreign media reports, confirmed that the rapid development of the daily service group purchase website LivingSocial has just won $400 million financing, now also acquired the long troubled advertising website SocialMedia. Purchase price of only $3 million, all Living Stock shares to honor. Unfortunately, SocialMedia has received a $10 million investment from Marc Andreessen, Charles River Clavier (Charles River Ventures), Naval Ravikant and Jeff.
SocialMedia the most valuable part of the world may be its domain name. But two years ago, the company is ready to cancel the domain name. It was one of the first companies to use a friend’s photo to create a Facebook advertising network in the company, with revenues of $15 million in 2008 and nearly $25 million in 2009. There are rumors that Facebook had tried to buy SocialMedia, but was rejected. Soon afterwards, Facebook threatened to take legal action to punish them for violating privacy policies.
the most noteworthy part of the acquisition is not the successful completion of a soft landing SocialMedia, but in the course of the transaction revealed LivingSocial financial, equity information. SocialMedia has approximately 545000 common shares of Living Social, which means that the existing LivingSocial approximately 520 million shares outstanding, and the recent E round of financing in the preferred stock price of $5.65, the company reached $2 billion 900 million valuation.