Groupon raises $950 mln in new funding

Jan 10, 2011
Internet bargain coupon phenomenon Groupon said Monday it had raised $950 million in the past month to invest in technology, fund its global expansion and compensate company employees and early investors.

Internet bargain coupon phenomenon Groupon said Monday it had raised $950 million in the past month to invest in technology, fund its global expansion and compensate company employees and early investors.

The two-year-old company said it had raised the money from venture capital firms and "late stage investors" including Andreessen Horowitz, Battery Ventures, Greylock Partners and Kleiner Perkins Caufield & Byers.

The $950 million included the $500 million the company announced it had raised on December 30, two weeks after launching a major fundraising effort.

The Chicago-based startup company, which offers subscribers online coupons for discounts on a broad range of consumer goods and services, had earlier rejected a reported $5 billion takeover offer from Internet giant Google.

In a statement Monday said its subscribers had grown to 50 million from just two million at the beginning of 2010.

Explore further: Ex-Qualcomm exec pleads guilty to insider trading

add to favorites email to friend print save as pdf

Related Stories

Andreessen fund's 1st investment has familiar ring

Aug 18, 2009

(AP) -- A new fund managed by Web browser pioneer Marc Andreessen and his longtime confidant Ben Horowitz is treading familiar ground with its first investment - a high-tech startup already tied to the two partners.

Google close to buying Groupon: reports

Nov 30, 2010

Internet search giant Google is close to a deal to buy online discount shopping site Groupon for as much as six billion dollars, The New York Times and a leading technology blog reported.

Amazon invests $175M in Groupon competitor

Dec 03, 2010

(AP) -- Amazon.com Inc. said Thursday that it invested $175 million in social coupon service LivingSocial - the latest sign that the online retailer is delving into promising new methods of e-commerce.

Recommended for you

Verizon 2Q profit rises 93 percent

37 minutes ago

Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless.

Comcast 2Q earnings top views on Internet hookups

1 hour ago

Comcast Corp.'s second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated.

Ex-Qualcomm exec pleads guilty to insider trading

16 hours ago

A former high-ranking executive of US computer chip giant Qualcomm pleaded guilty Monday to insider trading charges, including trades on a 2011 deal for Atheros Communications, officials said.

Media venture creates press litigation fund

16 hours ago

The media venture created by entrepreneur Pierre Omidyar said Monday it was establishing a fund to help defend journalists in cases involving freedom of the press.

User comments : 0