Chicago – Groupon, the provider of online "daily
deals" group buying offers in more than 500 markets, has closed a new $950
million round of financing, TechCrunch reported. Investors in the round
included DST, Fidelity, Morgan Stanley, Kleiner Perkins Caufield & Byers,
Andreessen Horowitz, Battery Ventures, Greylock Partners, Maverick
Capital, Silver Lake Partners and Technology Crossover Ventures.
Launched in
2008, Chicago-based Groupon now offers some 650 daily deals globally, and works
with 58,000 local businesses.
In 2010, the company increased its reach to 500
markets from 30, and grew its subscriber base from 2 million to over 50 million
(2,500%).
"We’re thrilled that Groupon has earned the confidence of some
of the world’s most respected investment firms," said Groupon founder and
CEO Andrew Mason.
"With their support, we will continue on our mission to
change the way people shop locally and serve the world’s local businesses."
*Correction: Groupon issued a corrected press release indicating that Mail.ru Group did not participate in the round, as it had previously stated.
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(TechCrunch)
Groupon is so popular – it’s no wonder companies want to join in and draw in consumers and businesses alike. I am not surprised they were able to get this kind of funding.
A great site to use to find deals and sales in your area is http://www.dailydealpool.com. This site emails you daily with a list of the best buys, ensuring you won’t miss your chance to join in on the savings.