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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.

LivingSocial, based in Washington D.C., offers its 12 million subscribers discounts on restaurants, spas and other services in more than 120 markets through a daily e-mail.

The company said it generates over $1 million a day, on average.

--Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

Stock quotes in this article: AMZN 

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