The local coupon company LivingSocial made headlines on Wednesday with a half-price Amazon gift card, the largest deal in the company's history.

LivingSocial, the competitor to Groupon, is selling $20 valued gift cards to Amazon, the Internet's largest retailer, for only $10.

Amazon itself invested $175 million into the company last month, and the strategy is bringing hundreds of thousands of users to the site. As of 3pm EST, over 750,00 people have bought the card.

Living Social made the offer in all 170 markets in which it operates. It is limited to one per person. Buyers can earn a free deal if they get three others to buy the deal.

I think today we've showed the power of the LivingSocial platform combined with the power of a great deal, said LivingSocial's CEO Tim O'Shaughnessy, in a statement. Who knows where we'll be by the end of the day, but I do think we'll have just had one of the most successful product sales of all time.

Prepaid gift cards typically have a 10-15 percent breakage rate of people who forget to redeem them.

The move follows a similar stunt by larger rival Groupon last summer, where nearly 500,000 $50 Gap coupons were sold for $25 each.

Amazon didn't immediately respond to a request for comment.

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