Groupon Expansion is Epic
Daily deal powerhouse Groupon announced that it has completed a $950 million round of financing (after its recent rebuff of a Google buyout).
Groupon will reportedly use the funds to invest in technology, provide liquidity for employees and early investors, and continue to fuel its global expansion.
Groupon's expansion thus far has been epic. In 2010, the site expanded from 1 to 35 countires, launched in 500 new markets (up from 30 in 2009), grew its subscribers by 2,500% to over 50 million, and worked with 58,000 local businesses.
“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.”