Groupon Raises $500M in Equity Financing
Published On January 1, 2011 |
Groupon, the shopping website that offers a daily deal on the best local goods, services and cultural events in more than 300 cities around the world, has raised $500m in equity financing.
According to a regulatory filing with the S.E.C., this raising marks the first close of a $950m funding round. The investors were not named in the filing.
Launched in November 2008, Groupon has its headquarters in Chicago, an office in Palo Alto, CA, regional offices in Europe (in 2010, the company acquired CityDeal.de) and Latin America, and local account executives in several cities.
Only in December 2010, Groupon launched in Columbus, Georgia; Lansing, Mich.; Roanoke, Va.; Harrisburg, Pa.; Kalamazoo, Mich.; Portland, Maine; Evansville, Ind.; Gainesville, Fla.; Erie, Pa.; Eugene, Ore.;- Modesto and Napa-Sonoma, California, Rockford, Ill.; Youngstown, Ohio; Huntsville, Ala. The company also expandes its presence in Canada with the recent launches of Barrie, Ontario; Sudbury, Ontario; Abbotsford, and Kelowna, British Columbia; and St. John’s, Newfoundland.
In addition, Jason Child joined Groupon as CFO.