Groupon has completed a huge $950 million round of financing valuing the business at $4.75 billion.
The company says they will use the funds to fuel global expansion, invest in technology, and provide liquidity for employees and early investors.
The financing consists of several venture capital firms and late-stage investors, including Andreessen Horowitz, Battery Ventures, DST, Greylock Partners, Kleiner Perkins Caufield & Byers, Maverick Capital, Silver Lake and Technology Crossover Ventures. Allen & Company LLC acted as financial advisor. Previous funding rounds were led by New Enterprise Associates, Accel Partners, Mail.ru Group and DST.
“We’re thrilled that Groupon has earned the confidence of some of the world’s most respected investment firms,” said Andrew Mason, founder and CEO of Groupon. “With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.”