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Groupon Secures $950M Financing

Web advertising firm, Groupon, has raised a total of $950 million in financing with investments from a number of venture capital firms.

Web advertising firm, Groupon,has raised a total of $950 million in financing with investments from a number of venture capital firms, Reuters reports. The venture capital firms and late-stage investors, included Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner PerkinsCaufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake and Technology Crossover Ventures.

Groupon will use the proceeds from the offering for further expansion outside of the U.S., along with technology and to provide liquidity for employees and early investors. The financial advisor for the financing of the Chicago-based company was Allen & Company.

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