Groupon Raises “Like, A Billion Dollars”

Groupon today said it has closed its previously reported $950 million financing round. The company said it will used the funds “to fuel global expansion, invest in technology, and provide liquidity for employees and early investors. The announcement had a headline which reads “Groupon Raises, Like, A Billion Dollars.”

Groupon recently turned down a $6 billion bid from Google.

Investors in the round include Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group (the Russian investment firm which used to be called Digital Sky), Maverick Capital, Silver Lake, and Technology Crossover Ventures. Allen & Co. acted as financial advisor.

The release adds:

In the last year, Groupon has been called “the fastest growing company ever” by Forbes Magazine and “America’s best website” by one of Groupon’s television commercials.

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

By ERIC SAVITZ (Forbes)
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