The Securities and Exchange Commission has begun examining whether disclosure rules for privately held firms need to be rewritten as a result of recent deals allowing investors to buy shares in Internet companies such as Facebook Inc. and Twitter Inc., according to people familiar with the situation. Get the full story »
Groupon
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Groupon stake could be available to all via T. Rowe
Online deal site Groupon is still privately held but retail investors might soon be able to own a piece of it, judging by other startups in which mutual funds run by T. Rowe Price Group have invested. Get the full story »
VC Experts: Groupon files to raise up to $950M
Groupon’s board has authorized the company to raise up to $950 million in what would be the biggest round of equity financing since Pixar sought some $500 million in 1995, the venture capital data firm VC Experts said on Tuesday.
The online discount coupon company, which specializes in local advertising, is seeking the funding after reports last month that it was in talks to sell itself to Google for up to $6 billion, in what would have been the web advertising giant’s biggest ever acquisition. Get the full story »
Groupon founder performs at Second City
From the Chicago Sun-Times | Groupon CEO Andrew Mason reminded everyone that he was a music major in college during an improv charity event late Tuesday at Second City. Accompanied by a singer, guitarist and saxophonist, the Northwestern alumnus, who was once part of a Billy Joel tribute band, sat at a grand piano and played “Movin’ Out” and “Scenes from an Italian Restaurant.” Get the full story>>
Groupons cost Navy Pier WonderFest revenue
Navy Pier, like other enterprises, is finding the use of daily deal site Groupon to be a mixed blessing.
The pier sold 7,500 Groupons for the beginning days of its annual Winter WonderFest, an 283 percent increase from its first venture into discounted sales via Groupon last year. Get the full story »
Sources: Groupon rejects Google’s offer; will stay independent
Groupon CEO Andrew Mason speaks at the company's headquarters on Aug. 31, 2010. (Brian Cassella/Chicago Tribune)
By Melissa Harris and Wailin Wong
The deal didn’t tip after all.
Chicago-based Groupon Inc. has turned down an acquisition offer from Google Inc. and is staying independent, two sources with direct knowledge of the situation said Friday.
The two companies had been engaged in talks, with speculation about the marriage reaching a fever pitch over the last week. Mountain View, Calif.-based Google reportedly had offered between $5 billion and $6 billion for the daily deal start-up. Get the full story »
Groupon buys 3 Asia sites as part of shopping spree
Chicago-based Groupon has offices at 600 W. Chicago, pictured here on Nov. 30, 2010. (Phil Velasquez/Chicago Tribune)
Daily deal startup Groupon is on a shopping spree of its own, even amid feverish speculation that Google is on the verge of making a big offer for the Chicago company.
Groupon said late Tuesday it has bought three daily deal sites based in Asia, moving the company into Hong Kong, Singapore, the Philippines and Taiwan. Terms of the deals with uBuyiBuy, Beeconomic and Atlaspost were not disclosed. Groupon’s first foray into Asia was in August, when it acquired a Japanese rival. The company said it is now in 35 countries.
Closer to home, Groupon has acquired Ludic Labs, a Silicon Valley technology company, for an undisclosed amount. Groupon said Ludic Labs’ most well-known products are Offer Foundry, an advertising and promotional platform for local businesses, and Diddit, a Web-based community where members can browse through local activities and attractions. Ludic Labs and Groupon have both raised money from Accel Partners, a Silicon Valley venture capital firm. Get the full story »
Reports: Google to offer up to $6B for Groupon
Groupon CEO Andrew Mason with Mayor Richard Daley, Aug. 31, 2010. (Brian Cassella/ Chicago Tribune)
Google Inc. is reportedly closing in on a deal to buy online discount-coupon sensation Chciago-based Groupon for up to $6 billion in its largest-ever acquisition, signaling a willingness to use some of its huge cash hoard to buy growth.
A deal, reported by several media, would give Google an important window into a fast-growing $91 billion local advertising market.
But Google’s shares fell 4.5 percent, partly on concern it may shell out too much for a business likely to face increasing competition. Reports of the deal came as the European Union announced plans to investigate Google’s search practices. Get the full story »
Groupon recovers from Oprah, Nordstrom strain
Chicago-based daily deals company Groupon said its Web site is back to normal after the combination of an Oprah Winfrey mention and a popular deal with retailer Nordstrom Rack caused traffic problems.
The site had been experiencing intermittent slowness in the morning for users depending on their location, said Groupon spokeswoman Julie Mossler. Get the full story »
