Groupon Buys LivingSocial, a Rival Once Valued at $6B
> <i>The amount of the purchase isn’t material, and the transaction should close next month, Groupon said Wednesday in a statement. Amazon.com Inc.-backed LivingSocial had cut more than half its workforce in March, part of a downward spiral from the headier days of 2011, when it was valued at $6 billion in a funding round.</i><p>For a company of Groupon's size ($3B annual revenue), that doesn't necessarily mean that it was free, right?