Groupon Raises, Like, A Billion Dollars: Investment to Continue Rapid Growth of Global Social Commerce Platform
Chicago, IL – January 5, 2011 – Today Groupon announced that it has completed a $950 million round of financing. Groupon will use the funds to fuel global expansion, invest in technology, and provide liquidity for employees and early investors.
The financing consists of several venture capital 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. Allen & Company LLC acted as financial advisor. Previous funding rounds were led by New Enterprise Associates, Accel Partners, and Mail.ru Group (formerly DST.)
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. In 2010, Groupon:
• Expanded from 1 to 35 countries
• Launched in almost 500 new markets (from 30 markets in 2009)
• Grew subscribers by 2,500% from 2 million to over 50 million
• Saved consumers over $1.5 billion
• Worked with 58,000 local businesses, serving over 100,000 deals worldwide
“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 world’s local businesses.”
Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in more than 500 markets around the world. Groupon uses collective buying power to offer unbeatable prices and provide a win-win for businesses and consumers, delivering more than 650 daily deals globally. For more information, visit http://www.groupon.com. To learn more on how to become a featured business on Groupon, visit http://www.grouponworks.com.