LivingSocial raises $400 million for expansion: report

(Reuters) - LivingSocial, the U.S. online coupon seller, has raised $400 million to fund expansion and keep up with larger competitor Groupon Inc, the Wall Street Journal reported, citing people familiar with the situation.

The investment round, led by current investors Amazon and Lightspeed Venture Partners, and new ones like Institutional Venture Partners, valued the company at about $3 billion, WSJ said.

LivingSocial was not available for comment.

(Reporting by Megha Mandavia; Editing by Dan Lalor)