Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
Groupon raises $950 million in financing
NEW YORK |
NEW YORK (Reuters) - Web advertising firm Groupon Inc, announced on Monday that it has completed a $950 million round of financing.
The financing consists of several venture capital firms and late-stage investors, including Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake and Technology Crossover Ventures.
In December, Groupon, which specializes in local advertising, raised $500 million by selling an equity stake, a month after reports it turned down a $6 billion takeover offer from Google Inc.
Groupon said in a regulatory filing at the time that the bulk of the funds would be used to buy back shares from investors.
Proceeds from the offering by Chicago-based Groupon will be used for further expansion outside of the United States, along with technology and to provide liquidity for employees and early investors.
Allen & Company LLC acted as financial advisor.
(Reporting by Nadia Damouni; editing by Andre Grenon.)
- Tweet this
- Share this
- Digg this