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Groupon reaches $950 million in financing
January 10, 2011 | 4:00 pm
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The daily-deals company, which recently spurned a takeover bid from Google
rumored to be as high as $6 billion, released a statement Monday with the tongue-in-cheek heading “Groupon raises, like, a billion dollars.”
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According to Groupon’s statement, the financing came from venture 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. Previous funding rounds were led by New Enterprise Associates, Accel Partners
, and Mail.ru Group (formerly DST).
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The company, founded in 2008 in Chicago, operates in 35 countries and has more than 50 million subscribers. Its revenue comes from taking a cut from each discount coupon it sells through its website.
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-- Abby Sewell
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