• eWeek, Tuesday, April 5, 2011 11:47 AM

Group buying service LivingSocial is having a good week. On the heels of raising between $400 million-to-$500 million, the Groupon rival is reportedly adding Neil Ashe, former president of CBS Interactive, to its board of directors. "What's more, sources said the company is now on track to book more than $1 billion in revenues this year, which is double the conservative figure the company reported only four months ago," reports eWeek.

Sources tell eWeek that Ashe's role at LivingSocial is strictly as a board member, and will not be taking a managerial role. Having left CBS in December, however, Ashe doesn't presently have a day job, and LivingSocial would certainly benefit from his experience in a more permanent capacity. As eWeek notes, another board member is Peter Krawiec of Amazon who joined after the ecommerce giant invested $175 million in LivingSocial late last year.

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