LivingSocial.com, the online coupon provider that competes with Groupon, lined up $400 million in funding that gives it a valuation of about $6 billion, according to a person with direct knowledge of the matter.

The company has already sold $176 million of the total, LivingSocial said in a filing with the Securities and Exchange Commission. The funding will be a mix of equity and debt, said the person, who declined to be identified because the figure hasn’t been disclosed. The investment will come from both existing and new backers, the person said.

LivingSocial, which was in talks with banks earlier this year about raising $1 billion in an initial public offering, shifted plans after other Internet companies faced turbulent debuts in the public markets.

The daily deal market may generate $4.17 billion in US sales in 2015, compared with $1.97 billion this year, according to research.