A Real Deal: Groupon Adds $135 Million In Additional Funding
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Barely six months after raising $30 million in funding, social deal-finding site Groupon has received a huge $135 million add on from previous backer DST, the Russian investment group. Also participating in the round was Battery Ventures, which is new to Groupon. Part of the proceeds will go towards promoting the Chicago-based company’s global expansion efforts. So far, the company has local sites in 50 cities in the U.S. and Canada.
In addition to the $165 million Groupon has taken in the past few months, its parent, The Point, has raised roughly $7.3 million from NEA and angel backers over the course of 2007 and 2008.
SEE ALSO: LivingSocial Raises $25 Million To Expand Group Buying Service
In general, the online social shopping space has been heating up the past year, with companies like Glit Groupe and Rue La La becoming more popular. Within that space, the local deals-discovery space has gained traction as well. As a sign of the growing interest in group buying sites, Groupon competitor LivingSocial raised a $25 million second round last month. Before that, BuyWithMe got raised $5.5 million in a first round in January. More details about Groupon in the release, via AllThingsD.
Posted In: Advertising, Daily Deals, Local, E-Commerce, Money, M&A & Venture Capital, Venture Capital, Social Media, Companies, Groupon, battery ventures, digital sky technologies
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