LivingSocial's new funding round was provided with "oppressive terms" and arrived with the...

|By:, SA News Editor

LivingSocial's new funding round was provided with "oppressive terms" and arrived with the company just days away from a Chapter 11 filing, PrivCo reports. The deal reportedly requires Groupon's (GRPN +5.2%) biggest rival to pay double-digit annual dividends, grants liquidation preferences of up to 4x the company's $110M debt load, and is meant to set up a sale by year's end. 29% owner Amazon (AMZN) is said to be among the investors. (Groupon upgrade)