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    HomeNewsBusinessCompaniesGroupon Raises $950M In Financing

    Groupon Raises $950M In Financing

    Web advertising firm Groupon Inc, announced on Monday that it has completed a $950 million round of financing.

    January 11, 2011 / 18:42 IST

    Web advertising firm Groupon Inc, announced on Monday that it has completed a $950 million round of financing.


    The financing consists of several venture capital firms and late-stage investors, including Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake and Technology Crossover Ventures.


    In December, Groupon, which specializes in local advertising, raised $500 million by selling an equity stake, a month after reports it turned down a $6 billion takeover offer from Google Inc.


    Groupon said in a regulatory filing at the time that the bulk of the funds would be used to buy back shares from investors.


    Proceeds from the offering by Chicago-based Groupon will be used for further expansion outside of the United States, along with technology and to provide liquidity for employees and early investors.


    Allen & Company LLC acted as financial advisor.

    By: Madhav Chanchani

    first published: Jan 11, 2011 09:08 am

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