Groupon Already Raised Half Of That Huge New Round

Andrew Mason, Groupon

Photo: Dan Frommer, Business Insider

Groupon has already closed half of that huge $950 million round, says TechCrunch.Investors include previous investor DST as well as new investors Morgan Stanley and Fidelity, and most of the money is being used to line the founders’ pockets, though the maths suggests they’ll retain large stakes. The rest of the round should close within the next few weeks.

Just to hammer it home: Groupon filed to raise that money less than two weeks ago and it’s now closed, meaning money in the bank, roughly half a billion dollars. Most likely the funding process was already well underway when they made the filing, but still — wow.

We reported on the original filing and expressed doubts on the latest valuation ($4.75 billion) that is being talked about.

Now See What Groupon Must Do In 2011 →

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