Groupon Files to Raise $950 Million in Preferred Stock |
| Bloomberg - Dec 29, 2010 |
Groupon Inc., the Chicago-based online-coupon site that spurned a $6 billion offer from Google Inc. this month, has filed to raise as much as $950 million from the sale of preferred shares.
The company amended its certificate of incorporation, allowing it to issue about 30.1 million shares of Series G preferred stock at a price of $31.59 a share, according to a Dec. 17 filing with the state of Delaware. The financing would value Groupon at as much as $7.8 billion, exceeding Google’s offer, according to VCExperts, a website that offers data and analysis for venture capitalists and private equity investors.
Groupon Chief Executive Officer Andrew Mason is raising money as he studies an initial public offering in the new year. Last week, Groupon hired Jason Child, Amazon.com Inc.’s former vice president of finance, to be its chief financial officer. The company, which offers deals in more than 300 cities, will have sales that top $500 million this year, people familiar with the matter said this month.
Read Full Article from Bloomberg
- Posted: 2010-12-29 12:39:47
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