Skip to main content

Groupon sets record by raising $950 million

Groupon fundsGroupon is showing that it can get along just fine without Google’s money. The online coupon vendor confirmed today that it had raised $950 million from investors — the largest amount of money ever raised by a start-up company. The announcement comes just a few weeks after Groupon rejected Google’s $6 billion acquisition offer.

“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, in a press release. “With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.”

Recommended Videos

The contributing investors include some of Silicon Valley’s elite names including Andreessen Horowitz, Kleiner Perkins Caufield & Byer, and Battery Ventures. The deal valued Groupon at $4.75 billion. Suspicions that Groupon was up to some serious funding efforts were first aroused in late December, with the company’s rumored valuation approaching $7 billion —  well short of the actual figure.

The success of the capital raising effort confirms that Groupon — just over two-years old — is among the Internet’s hottest companies. Over the past year, Groupon has expanded its operations from the just the U.S. to 35 countries, climbing from just 30 markets in 2009 to over 500 in 2010. Groupon’s subscribers rose 2,500% over the last year, from two million to over 50 million. The company claims that its daily deals and coupons, offered through 58,000 local businesses, have saved its customers over $1.5 billion. 2011 is shaping up to be a very good year for Groupon.

Aemon Malone
Former Digital Trends Contributor
SpaceX’s Starlink rival is about to launch more internet satellites — here’s how to watch
Amazon's KA-01 mission for Project Kuiper gets underway from the Space Coast.

[UPDATE: A technical issue with the rocket has caused the launch to be postponed. We'll update this article with the new launch schedule just as soon as it becomes available.]

Amazon is preparing to launch its second batch of Project Kuiper internet satellites to orbit as it seeks to build out a constellation to take on SpaceX’s Starlink service.

Read more
Weird Mac mini issue prompts Apple to take action
A top-down view of the Mac Mini.

Following multiple reports of specific Mac mini computers failing to power on, Apple has launched a global repair program to sort the problem out.

Apple launched the  M2 Mac mini in January 2023, though the affected units were made between June 16 and November 23 of 2024, according to a notice about the repair program that was first spotted by MacRumors.

Read more
Don’t miss this chance to buy a MacBook Air at $200 off
The MacBook Air on a table in front of a window.

For those who have always wanted to get one of Apple's MacBooks but can't stomach the price tag, here's your chance to buy one for a relatively affordable price. Best Buy has slashed the price of the 13-inch Apple MacBook Air M3 to only $699, for savings of $200 on its sticker price of $899. You need to act fast though, as there's always high demand for MacBook deals. The stocks that are up for sale may already be gone as soon as tomorrow.

Why you should buy the 13-inch Apple MacBook Air M3

Read more