Groupon to raise $950m in massive funding round
Who needs Google, anyway?
Posted in Financial News, 29th December 2010 15:18 GMT
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Up and coming e-commerce coupon website Groupon has been given the go ahead to raise up to $950m in a massive equity financing round.
The company, which recently turned its back on a stellar $6bn takeover offer from Google, said it planned to sell shares at $31.59 each, according to a state of Delaware filing cited by Reuters.
If the firm goes public, which looks more likely following its decision to shun Google, then Groupon’s shares would automatically be converted into common stock.
Research outfit VC Experts - which first reported the funding round - put Groupon’s share price value at between $6.4bn and $7.8bn. ®
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