Groupon Raises Funding, Giving Them $1.35 Billion Valuation
Groupon is in the process of raising a new round of funding that would give them a $1.35 billion valuation. Groupon offers daily deals across several cities every day only if a certain number of people sign up. If not enough people sign up, nobody gets the deal.
Groupon has about 3 million subscribers across 40 markets. About 3 million groupons have been bought since November 2008.
According to a source with TechCrunch, Digital Sky Technologies (DST) is the company behind the investment. DST has major investments in Facebook and Zynga. [TechCrunch]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry