Groupon raises $500 million in financing
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Online coupon company Groupon reported Thursday that it has raised $500 million in financing, bringing it more than halfway to its goal of $950 million.
The privately held company disclosed its financing in a filing with the Securities and Exchange Commission.
Earlier in the week, Groupon founder and Chief Executive Andrew Mason wrote on Twitter that ‘Groupon is in the process of completing a new round of financing -- we’ll let everyone know when there’s more to announce.’
The company recently resisted a Google takeover bid rumored to be as much as $6 billion. According to estimates from VCExperts.com, the new round of financing makes Groupon worth about $6.4 billion.
Its backers include Chicago-based investors Eric Lefkofsky and Brad Keywell, the venture capital firms New Enterprise Associates and Accel Partners, and the Russian firm Mail.ru Group, which was formerly named Digital Sky Technologies.
Founded in 2008, Groupon reported 35 million subscribers and 18 million Groupons sold in North America as of November.
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