Groupon may raise up to $950M in financing

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.


Explore further

Report: Groupon spurns Google's takeover attempt

©2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Citation: Groupon may raise up to $950M in financing (2010, December 29) retrieved 19 August 2019 from https://phys.org/news/2010-12-groupon-950m.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

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

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.

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more