LivingSocial second-quarter loss

News and technology information Beijing time July 29, the documents submitted by Amazon show that the second quarter, the company's investment site LivingSocial losses have been reduced, while the revenue doubled.

LivingSocial is Groupon's main competitor, offering discounted coupons for restaurants, hotels, events, and other goods and services.

In the quarter ended June 30, LivingSocial revenue was $138 million trillion, up from $59 million a year earlier. In the second quarter, livingsocial a net loss of $93 million, down from $198 million a year earlier.

A LivingSocial spokeswoman declined to comment on the data submitted by Amazon. Amazon currently holds a 29% stake in LivingSocial. Amazon said the investment was worth 271 million dollars in the second quarter, down from $298 million in the previous quarter.

Market research firm Bia/kelsey reported that the size of the US internet buying market will grow to $4.17 billion trillion by 2015, up from $1.97 billion last year. LivingSocial is also opening up other business other than group buying. This April, the company acquired the online ordering service Onosys.