January 11, 2011

Groupon Completes Financing Round

Deal-of-the-day website Groupon Inc announced Monday that it has completed a $950 million round of financing consisting of several venture capital firms and investors.

In December, Groupon raised $500 million by selling an equity stake, a month after it reportedly turned down a $6 billion takeover offer from Google Inc.

In a regulatory filing at the time, Groupon said it would use most of the funds to buy back shares from investors.

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

Among the firms and investors included in the financing are 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.


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