LivingSocial's Amazon Offer Sees $13M
NEW YORK (TheStreet) -- Daily deals company LivingSocial ended its promotion selling Amazon (AMZN) gift cards Thursday, and more than 1.3 million customers signed up for the offer. The deal, which offered a $20 Amazon gift card for $10, generated over $13 million for the Groupon rival.
LivingSocial received a $175 million investment from Amazon late last year, and many tech watchers were waiting to see what the partnership would entail.
>>LivingSocial CEO: Doubling Our Market This Year
Groupon launched a similar gift card deal with Gap (GPS) last year, offering a $50 gift card for $25. The deal reportedly generated $11 million.
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