According to Forbes …
In December 2010, Amazon invested $175 million into LivingSocial.
In the third quarter of 2012 Amazon reported loss of $274 million … blaming most of the loss on its investment in LivingSocial.
At that time, Amazon wrote down LivingSocial’s “goodwill” – or intangible value – to almost nothing.

Concurrently with Amazon’s “accounting adjustment”, LivingSocial announced it was laying off about 10% of its staff.
This week, LivingSocial confirmed that its Seattle office is now closing and that “the team that had been located there are still with LivingSocial and will be working remotely.”
The Seattle office closure follows in the wake of a $110M round of emergency funding at a “down valuation”.
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Flashback: Remember Groupon …
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