LivingSocial closes $176 million round. How far off is an IPO?

Daily deals site LivingSocial has closed a monster $176 million round of financing, according to documents filed with the Securities and Exchange Commission today. VentureBeat has learned that the $176 million is the first tranche of  $400 million the company hopes to raise over the next weeks and months to finance continued operations and expansion.

We reported in mid-November that the company was looking to raise $200 million at a $5 billion valuation. Investment bank … Continue Reading