Daily deals startup_LivingSocial, which competes with_Groupon, has called it quits in Asia. The company announced today (as spotted by_Tech in Asia) that it has sold its business in Southeast Asia the only region in Asia where it still operated in to e-commerce firm iBuy Group for $18.5 million in cash. LivingSocial's business in the region spans Thailand, Malaysia, Indonesia and the Philippines. John Bax, the chief financial officer of LivingSocial, says that the cash will help it go further in product development and marketing in the US and other regions which it still operates in. LivingSocial has had...

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