Starbucks Corporation (NASDAQ:SBUX) CEO Howard Schultz has invested in Groupon.com through his investments company called Maveron. As a result, Schultz will also be joining the company board of directors. Maveron’s investment amount was undisclosed.
Groupon recently raised $950 million from Andreessen Horowitz, Battery Ventures, and Kleiner Perkins Caufield & Byers. “We think Groupon is an incredibly exciting, fast-growing company whose product is spot-on to consumers’ needs and has integrated into consumers’ lives throughout the world at an amazingly fast clip,” stated Maveron co-founder Dan Levitan. This is the second time that Maveron made an investment in a later-stage technology company. The first time was with eBay in 1998 before the company went public.