Groupon files to raise up to $950 million

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Groupon files to raise up to $950 million

Post by NewsOnline on Wed Dec 29, 2010 5:20 am

Groupon files to raise up to $950 million

BOSTON | Wed Dec 29, 2010 4:32am EST

(Reuters) - Groupon Inc, the fast-growing online coupon seller, has been authorized to raise up to $950 million in what would be the biggest round of equity financing by any company since Pixar in 1995.

The company said in filing with the state of Delaware that it intended to sell shares at $31.59 each.

That price would value Groupon at between $6.4 billion and $7.8 billion, depending on the number of shares issued, according to VC Experts, a research firm that specializes in providing data on private companies.

Groupon, with annual revenue said to range from $500 million to $2 billion, sends members daily e-mails with steeply discounted deals from local merchants. The deals are activated when a certain number of people agree to make a purchase.

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