By Melissa Harris | Groupon, the Web site that offers users steep discounts on services if enough people sign up for them, is in the final stage of securing a new round of venture capital funding, according to a source at the Chicago-based Web start-up.

The company, lead by founder Andrew Mason, is reportedly increasing in value at a rapid rate. In Dec. 2009, when venture capital fund Accel invested $30 million, Groupon was valued at $250 million. Not even six months later, TechCrunch is reporting that the company may be valued at $1.35 billion in this new deal.

Groupon offers a deal a day, often a service, such as a manicure, at
half-price. But the coupon doesn’t go into effect unless a certain
number of people commit to participating in the deal.