Amazon.com invests $175m

Amazon.com is investing $175m in online coupon company LivingSocial, a pre-emptive strike against Google which is looking to buy Groupon, another coupon provider. LivingSocial said yesterday it also secured an $8m investment from Lightspeed Venture Partners, adding that it will use the funds to grow its business worldwide. LivingSocial said it is currently booking revenues of more than $1m a day on average and expects well over $500m in 2011. Search engine leader Google is talking to Groupon about an acquisition, it emerged earlier this week.