Daily Deal Site LivingSocial.com coming with an IPO.

Daily deal website LivingSocial held meetings earlier this week to select bankers to lead an initial public offering, which could raise north of a billion dollars, according to a person familiar with the matter.







The offering could value the company at up to $15 billion, according to this person, a significant increase compared to a recent private transaction which valued it at $3 billion.

The Washington, DC based company, run by CEO Tim O'Shaughnessy, also expects to be cash flow positive by 2012, boosted by expected revenue of $1 billion for this year, according to this person.

LivingSocial’s race to IPO comes just weeks after rival Groupon filed registration paperwork with the Securities and Exchange Commission for an IPO of its own.

Groupon’s offering is slated to be at least $750 million in size, and is being led by Morgan Stanley, Credit Suisse and Goldman Sachs.

A spokesperson for LivingSocial was not immediately available for comment.
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Make it happen !!

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