LIVINGSOCIAL LOOKING TO RAISE $1 BILLION IN IPO

Deal-of-the-day website LivingSocial Inc., which has courted bargain-hunting consumers for the past few years, is now looking to win over public investors.

LivingSocial has selected bankers for an IPO that seeks to raise $1 billion and value the online coupon website between $10 billion and $15 billion.

LivingSocial, which competes with larger rival Groupon Inc., is seeking to raise about $1 billion from an initial public offering, valuing the Web firm at between $10 billion and $15 billion, people familiar with the matter said.

LivingSocial will likely go public in the fall according to sources. A LivingSocial spokeswoman declined comment.