Groupon may raise up to $950M in financing

Dec 29, 2010
Groupon

(AP) -- Groupon's board has authorized the local-coupon site to raise up to $950 million in funding, a recent Delaware regulatory filing says.

Google Inc. reportedly tried to buy the Chicago company for between $5 billion and $6 billion but was rejected in early December.

In a Dec. 17 amended certificate of incorporation, which was first reported Tuesday by venture capital data provider VC Experts, Groupon said it may issue up to 30 million Series G Preferred Shares at a price of $31.59 each.

Groupon's last round of funding - $135 million - came in April from Mail.ru Group, formerly Digital Sky Technologies.

VC Experts estimates that if Groupon raises the full $950 million the company would be worth about $6.4 billion total.

A spokeswoman could not be reached for comment.

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User comments : 2

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OmRa
not rated yet Dec 29, 2010
what is it raising the money for?
how is it raising this money, from who?
why is Google trying to buy everything?

$950 million, that's almost a billion
SirChazwell
5 / 5 (1) Dec 29, 2010
what is it raising the money for?
how is it raising this money, from who?
why is Google trying to buy everything?

$950 million, that's almost a billion


the only question i can answer is it seems google would mainly want to purchase groupon because of the new nfc chips being put into android phones. same with a majority of the companies they acquire (being for android); even android itself was something they acquired from the originators.