Group buying site Groupon has completed a $US950 million round of funding from a group of investment firms.
The company has said it will use the money to “fuel global expansion, invest in technology, and provide liquidity for employees and early investors”.
“With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.”
The investment firms involved include: Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake, and Technology Crossover Ventures.
Groupon says Allen & Company LLC acted as a financial advisor. Chief executive Andrew Mason also said that he is “thrilled that Groupon has earned the confidence of some of the world’s most respected investment firms”.
“With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.”
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