Groupon Collects $950 Million, Sees Massive Growth In 2010
Gotta love the team at Groupon, first they turn down multi-billion dollar offers, including one buyout attempt of more than $6 billion from Google, then they title their press release “Groupon Raises, Like, A Billion Dollars.”
The $950 million dollar payday comes from a huge list of backers. According to ReadWriteWeb those backers include:
“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.”
The backing comes at a time when the company has seen enormous growth with 2010 taking their user base from 2 million to more than 50 million users, while moving from 1 country (U.S.) to 35 countries and more than 500 markets (up from 30 in 2009).
According to Groupon, they have saved users more than $1.5 billion to date, while working with 58,000 businesses in the United States and more than 100,000 company’s around the world.
With the newest round of funding Groupon is now valued in the vicinity of $4.75 billion.