Daily Deals Site ‘LivingSocial’ Nearing $1 Billion IPO?

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Is LivingSocial about to follow Groupon’s lead, and go public? CNBC certainly thinks so, reporting that the site has met with bankers to discuss the possibility, and suggesting a surprisingly high valuation that may have come from said meetings.

CNBC cites an anonymous source “familiar with the matter” as claiming that the daily deals company, recently privately valued at around $3 billion, could be valued to as much as $15 billion for public offering.

(MORE: Study: Half of All Daily Deals Don’t Increase Profits or Sales)

Of course, that’s nothing compared with the $25 billion figure that Groupon’s early IPO rumors mentioned—Groupon’s June 2nd IPO filing included a more conservative $750 million figure, but as the Wall Street Journal commented, that number is more placeholder for the purposes of filing fees than anything else, sadly underscoring LivingSocial’s #2 ranking in America just that little bit more.

The company is expected to select underwriting banks by the end of the week, with a view to discuss what Reuters is calling “an initial public offering” of around $1 billion.

MORE: LivingSocial’s Daily Deal Sells $26 Million Worth of Amazon Gift Cards

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