Daily deal site LivingSocial sold more than 1.3 million discount vouchers for purchases at Amazon.com in what is easily the most-purchased daily deal offer for the young but red hot industry. The offer expired this morning.
Consumers could snag a $20 Amazon gift card for $10. Amazon, No. 1 in the Internet Retailer Top 500 Guide, said in December it would invest $175 million in LivingSocial, which competes with Groupon Inc. and other, smaller e-commerce companies that e-mail daily discount offers to consumers who sign up to receive those offers.
“I think we’ve showed the power of the LivingSocial platform combined with the power of a great deal,” says Tim O’Shaughnessy, CEO of LivingSocial.
The last big daily-deal offer was from Groupon, which in August offered $50 of merchandise from Gap Inc., No. 23 in the Top 500 Guide, for $25. Consumers bought more than 441,000 vouchers.