Groupon gets $135 million from Russian group

Posted April 19, 2010 at 10:04 a.m.

By Wailin Wong | Chicago-based social commerce website Groupon has raised a new round of
$135 million in funding from Russian investment group Digital Sky

Battery Ventures also participated in the latest round of fundraising.
In a press release, Groupon said some of the money will go toward the
company’s global expansion and the remainder “will be used to facilitate
liquidity for employees and early investors.”

The $135 million investment trumps the $30 million that Groupon raised in December from Accel Partners, a Silicon Valley venture capital firm. Both Accel and DST are also investors in Facebook. Groupon had also raised $4.8 million from New Enterprise Associates in January 2008.

Groupon launched in October 2008 and has grown rapidly, expanding to more than 50 cities. Groupon offers a daily deal in each city, with the discount triggered if a certain number of people sign up for the promotion. The company plans to be in 100 cities by year-end. Earlier Monday, Groupon said it has launched its service in Orlando, Fort Worth, Tucson and Toronto.


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