Groupon Files to Raise Up to $950 Million From Preferred Shares

Wednesday Dec 29th 2010 by Staff

The coupon site rejected an earlier $6 billion buyout bid from Google.

Bloomberg: Online coupon site Groupon has filed the necessary paperwork to sell $950 million worth of preferred shares. That would give Groupon a value of $7.8 billion, more than the $6 billion Google offered earlier this month to purchase the company.

Insiders say Groupon had sales of $500 million this year.

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