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Technology Stocks : Groupon, Inc.

GRPN 18.92

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To: stockman_scott who wrote (235)	7/27/2012 4:50:57 PM
From: Glenn Petersen	2 Recommendations Read Replies (1) of 480

Amazon's Book Value for LivingSocial Declines By GREG BENSINGER Wall Street Journal Updated July 27, 2012, 3:13 p.m. ET Amazon.com Inc.'s book value of its stake in daily-deals company LivingSocial Inc. has declined, according to regulatory filing Friday. Amazon put the book value of its 29% stake in LivingSocial at $271 million in the second quarter, down from $298 million in the first quarter, according to the Amazon filing. LivingSocial was valued at $934.5 million in the quarter, after cracking $1 billion in this year's first three months. The Washington D.C.-based company swung to a second-quarter loss as its expenses mounted. It posted a loss of $93 million in the quarter, compared with a gain of $156 million in the first quarter, due in part to a 16% jump in operating expenses to $234 million, according to the filing. LivingSocial parted ways this week with a dozen employees, including three executives, as part of a broad reorganization to help it compete with Groupon Inc. LivingSocial Chief Executive Tim O'Shaughnessy has said the company has no immediate plans to file for an initial public offering in the wake of the rocky IPOs of Facebook Inc. and Groupon. A LivingSocial spokesman didn't immediately respond to a request for comment. Write to Greg Bensinger at greg.bensinger@wsj.com online.wsj.com

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