Summary Box: LivingSocial seeks $400M in funding

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MORE MONEY: LivingSocial, the No. 2 online deals site behind Groupon, plans to raise $400 million in a private offering.

WHY IT MATTERS: It will likely give the company a cushion to put off an initial public offering of stock.

THE NUMBERS: LivingSocial Inc. says it has already raised $176 million of the planned amount. This is the sixth round of private funding by the company, which most recently raised $400 million in April.