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Groupon secures "like, a billion dollars" in financing

Groupon said today that it has secured $950 million in investment financing that the company plans to use to further its global expansion, invest in technology and provide some liquidity for its employees and early investors. (Techmeme)The news comes after the company last month turned down an acquisition bid from Google that was rumored to be in the $5 billion to $6 billion range.
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Written by Sam Diaz, Inactive on

Groupon said today that it has secured $950 million in investment financing that the company plans to use to further its global expansion, invest in technology and provide some liquidity for its employees and early investors. (Techmeme)

The news comes after the company last month turned down an acquisition bid from Google that was rumored to be in the $5 billion to $6 billion range.

In a release issued today, the company rattled off a who's who of investors in this latest round, including Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake, and Technology Crossover Ventures. Allen & Company LLC acted as financial advisor. In a statement, company founder and CEO Andrew Mason said:

We’re thrilled that Groupon has earned the confidence of some of the world’s most respected investment firms. With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.

Last year, the company expanded into 35 countries, launched in 500 new markets and grew subscribers from 2 million to more than 50 million.

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