Amazon Invests $175 Million in Living Social

Living Social plans to use the cash infusion to continue to roll out its offering in more locations. It currently has 10 million subscribers in the U.S., Canada, the U.K., Ireland and Australia. The company expects to record $500 million in revenue in 2011.

Nancy Gohring covers mobile phones and cloud computing for The IDG News Service. Follow Nancy on Twitter at @idgnancy. Nancy's e-mail address is Nancy_Gohring@idg.com