Groupon today has secured close to a billion dollars ($950 million) in funding, Business Wire reports.

What Groupon Plans to Do With the Billion Dollars

Groupon intends to use the funds to increase global expansion, invest in technology, and provide liquidity for employees and early investors. A number of VC (venture capital) firms and late-stage investors will be financing Groupon. These investors include:

  • Andreessen Horowitz
  • Battery Ventures
  • DST
  • Greylock Partners
  • Kleiner Perkins Caufield & Byers
  • Maverick Capital, and
  • Silver Lake and Technology Crossover Ventures

Groupon Credentials – Why it Deserves Like, a Billion Dollars

This past year Groupon has been dubbed “the fastest growing company ever” by Forbes Magazine and “America’s best website” by one of Groupon’s TV commercials. Groupon, in 2010, did the following:

  • Expanded from 1 to 35 countries
  • Launched in almost 500 new markets (from 30 in 2009)
  • Increased subscribers by 2,500% from 2 million to over 50 million
  • Saved consumers over $1.5 billion
  • Worked with 58,000 local businesses, issuing over 100,000 deals worldwide

Andrew Mason, founder and CEO of Groupon, stated:

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

Groupon was launched in Chicago in 2008 and has been one of the fast growing companies in the United States.

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