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Friday, 31 December 2010 - Groupon raises over half of $950 million funding bid
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    Read more with google mobile : Groupon raises over half of $950 million funding bid

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Groupon raises over half of $950 million funding bid AFP - Friday, December 31 Send IM Story Print Groupon raises over half of $950 million funding bid Slideshow: Full Photo Coverage: Internet Portals & Search Engines NEW YORK (AFP) - – Internet sensation Groupon, which specializes in dishing out local bargains, said Thursday it had raised 500 million dollars, just weeks after rejecting a multi-billion-dollar takeover bid by Google. The mega-financing, revealed by the Securities and Exchange Commission (SEC), was part of a funding round launched on December 17 that could fetch up to 950 million dollars. Google was believed to have offered more than five billion dollars to buy up the online discount shopping site early this month, but Groupon decided to remain independent. The Chicago-based startup is also considering an initial public offering to issue common stock or shares for the first time as part of an effort to become publicly traded as soon as the end of 2011, according to The New York Times. In the meantime, over 344 million dollars of the total raised so far will be used to compensate Groupon's leaders and administrators. Analysts estimate the company is now worth between 4.8 and 7.8 billion dollars. Groupon is also negotiating financing commitments with Fidelity Investments, T. Rowe Price and Morgan Stanley, according to the Times. Founded in 2008, Groupon offers discounts to its more than 12 million members on retail goods and services, offering one localized deal a day. Acquiring Groupon would have played into Google's efforts to localize and personalize Internet searches and services, particularly when it comes to connecting customers with merchants. Groupon reportedly spurned a two-billion-dollar buyout offer from faded Internet star Yahoo! earlier this year. Recommend Send IM Story Print Related Articles Most US Internet users have paid for content AFP - 20 minutes ago US-TECH Summary Reuters - Friday, December 31 Virus attacks Android phones in China: researchers Reuters - Friday, December 31 Groupon raises over half of $950 million funding bid AFP - Friday, December 31 Facebook tops Google as most visited site in U.S. Reuters - Friday, December 31 News Search Top Stories Deadline looms for Billy the Kid pardon Estonia braces for euro switch Colombia undertaker launches ghostly census Merkel tells Germans they need the euro Russia's Khodorkovsky to stay in jail six more years More Top Stories » Related Full Coverage Internet Portals & Search EnginesLatest development in the online world All Full Coverage » ADVERTISEMENT Most Popular Most Viewed French model known for anti-anorexia ads dies World's oldest human remains claimed in Israel Denmark and Sweden foil 'Mumbai-style' massacre plot Brazil's Petrobras confirms giant oil finds Deadline looms for Billy the Kid pardon More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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