Groupon Raises $500 Million
2010 December 30
Ft.com is reporting that Groupon has raised $500 million in sale of preferred stock just weeks after Groupon reportedly rejected at $6 Billion dollar buyout offer.
Ft.com is reporting that Groupon is trying to raise an additional $450 Million or $950 Million total.
“”At $500m, Groupon’s latest round of fundraising is already among the largest by an internet company.
Were the company to go on to raise the full $950m, it would exceed the total amount of cash that has been raised by Facebook, which has attracted some $836m in several investment rounds.”"
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Groupon is onto something big… I didn’t understand it at first, but now, it all makes sense. Company has a bright future and I am glad Google didn’t take-over…. YET
Rumor has it that of the cash raised via the $500mm stock offering, Mason is burning $100mm to turn all of 600 West into the worlds biggest indoor Tulip Garden.
Anybody else seeing a bubble?
I wander why do they need so much money, it seems to be a simple website.
I’ve been looking to create the perfect “social, local, mobile, coupon” domain. I’ve come up with and passed on these so far:
Coucial (Coupon Social)
Locial (Local Social)
Socount (Social Discount)
CouSave (Coupon Save)
Locially (Local Social Lifestyle)
Discial (Discount Social)
Vouponge (Virtual Coupon Exchange)
Still looking…
- TBC
@ValueDrops,
The article said $344m was earmarked to buy back shares from the nine board members, so there’s your answer. I wonder what the per share price was, as compared to Google’s offer? That would be interesting to know.
“Video, Social, Mobile, and Local” are THE FOUR buzzwords of the next decade or more, which is why I picked up Soc.TV – its short for ease of use when typing into a mobile device, “soc” can stand for social or society (or both), it has the .tv for video, and I actually have a semi-decent plan for it – anyone have an extra $5-million on hand to help me build it out and market it?
- TBC
bought LocalCoupZ.com to go with some shopper / flyer names in our portfolio.
Pretty good at finding em buying em. Lately not so good at liquidating them preferrably to end users.
I think the domain industry is held back by what I perceive as a lack of collaboration.
The day the creative buyer type domaienrs meet creative developers and sellers all domainers will benefit by sales and the subsequent news of more sales and domain deals IMO
I understand this type of collaboration is a huge part of the theory behind TRAFFIC conferences and I suspect others.
Wow, what sort of money are they making that they would decide to turn down a $6 Billion offer?
@ Gazzip
Its called future Intrinsic value. The multiples on valuations on internet start ups are causing people such as Zuckerburg and others to reach Billion $ companies at an ever increasing velocity.
Gratefully, Jeff Schneider (Metal Tiger)
“what sort of money are they making that they would decide to turn down a $6 Billion offer?”
If they are doing so great why do they need $950 Million? Why are insiders cashing out so massively? OK, I understand that a founder must have $5-$20 Million somewhere so he doesn’t have to worry about day-to-day bills but this is just f-i-s-h-y
@Ace
We see this so called bubble continuing for the next decade. There are 10 to 15 million people unemployed in this country, NOT the 8 million the government claims. There is the distinct possibility of an additional Billion online businesses entering the web world wide. These are not tulips we are talking about here!
Gratefully, Jeff Schneider (Metal Tiger)
Hmm…better use some of that money & hire some eggheads to do the algorithms.THAT is what Google has/d in abundance.When they told G to take a hike…I thought that might be the beginning of the end.We’ll see.
If Google ever gets someone discrete enough to FRONT ,
for a hands on direct manipulative “Coupon Platform”
Groupon may end up with a creeping shadow that engulfs em.
V.C. Hype before they see the emperor naked & Facebook working with the community 4 the community as the real deal prophecy profit promised in the ancient silicon chip.