PrivCo, a research firm tracking private companies, says that daily-deals site LivingSocial took $110 million from its existing investors in the form of debt, not equity. If that's true, LivingSocial is in a world of hurt. For one thing, the debt deal described by PrivCo CEO Sam Hamadeh is on loan-shark terms.
If This Report Is True, Livingsocial Is In Far Worse Shape Than We Thought
Owen Thomas, Business Insider
Thu, 02/21/2013 - 8:57am
Topics: privco ceo sam hamadeh amazon privco's hamadeh livingsocial ceo tim o'shaughnessy groupon but jeremy liew lightspeed venture partners jeremysliew february sai twitter facebook livingsocial privco livingsocial liew report merchants deal debt company investors million time essentially employees deals site scenario existing pays equity terms daily goods means convertible-debt creditors put services cash loan fall money business writeoff investment
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