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 Groupon said its subscribers had grown to 50 million from just two million at the beginning of 2010.
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