Groupon just filed a certificate to authorise an astounding $950 million fundraise at a $6.4 billion valuation, VC Experts reports.The certificate is a sort of heads up, filed before the deal is done.
The certificate authorizes up to $950 million. It’s not certain Groupon will raise that much.
VC Experts says “a Form D outlining the exact amount raised should be filed next week.”
Groupon CEO Andrew Mason tells us, “we’ll let you know if we have news about fundraising.”
$950 million is a huge chunk of change, but Groupon could use the money. It already employees 3,000 people. Because it’s a sales-heavy business, it’s going to need many more people to keep growing so fast.
This round is different than the last big one Groupon did with Russian holding company Digital Sky Technologies in that Groupon’s new investor will get voting shares this time around.
A couple weeks ago, Groupon rejected a $6 billion offer from Google because board members feared anti-trust issues would plague the merger for months.
Groupon is just one of several successful startups based out of Chicago and founded by entrepreneurs Brad Keywell and Eric Lefkofsky.
Correction: An earlier version of this post said Groupon raised $950 million. Groupon has actually just filed to authorise a raise of as much as $950 million.
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