LivingSocial Seeks $1 Billion in IPO

Groupon rival LivingSocial is making preparations to file for IPO, hiring three banking institutions as lead underwriters. The action is aimed at raising $1 Billion in public investment, raising the value of LivingSocial into the $10-15 Billion range. Can you say Internet Bubble?

The site's market share is growing. LivingSocial's share in the nation's top 30 metro markets rose from 20% in April to 24% in May, according to daily deal-site aggregator Yipit.

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