Losses are mounting for LivingSocial

LivingSocial, the other social commerce company, is not yet a public company. But its results are public, thanks to the investment it received from Amazon (s AMZN). The Seattle-based retail and web services company reported its earnings earlier this week and in its 10-Q revealed that during the for the second quarter of 2012, LivingSocial lost $93 million on sales of $138 million.
In other words, it is burning about $90 million a quarter, tweets uber VC Bill Gurley of Benchmark Capital. Amazon gives its LivingSocial investment a book value of $271 million. Amazon invested $175 million in LivingSocial in December 2010. GroupOn (s GRPN) will announce its results on August 13.