Groupon files to raise up to $950 million: VC Experts

BOSTON Tue Dec 28, 2010 5:35pm EST

BOSTON (Reuters) - Groupon's board has authorized the company to raise up to $950 million in what would be the biggest round of equity financing since Pixar sought some $500 million in 1995, the venture capital data firm VC Experts said on Tuesday.

The online discount coupon company, which specializes in local advertising, is seeking the funding after reports last month that it was in talks to sell itself to Google Inc (GOOG.O) for up to $6 billion, in what would have been the web advertising giant's biggest ever acquisition.

Groupon made its intentions known in an restated certificate of incorporation that it filed with the State of Delaware on December 17, according to Justin Byers, head of business intelligence for VC Experts, which specializes in providing data on private companies.

Officials with Groupon could not immediately be reached for comment.

(Reporting by Jim Finkle; editing by Carol Bishopric)

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