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Report: Groupon Files to Raise up to $950M

 & Chloe Albanesius Executive Editor, News

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Google and Groupon

It appears that Groupon is still the prettiest girl at the dance. According to a Tuesday report, the site has filed for Series G funding that would authorize it to raise up to $950 million; a move that could put the company's value at almost $8 billion.

Groupon has "filed a certificate to authorize a $950 million Series G round of preferred stock," VC Experts reported. A form outlining the exact amount is expected next week.

That puts the value of Groupon at $6.4 billion, according to the site's valuation and deal term database. But this filing increases the authorized shares of voting common to 250 million shares, and if all those shares are issued, Groupon's valuation could jump to $7.8 billion, VC Experts said.

Groupon did not immediately respond to a request for comment.

VC Experts suggested that Groupon will use this new funding for its overseas expansion plans.

The news comes several weeks after reports that Google was looking to buy Groupon. Reports originally put the deal at $2.5 billion, but that later skyrocketed to over $5 billion. By early December, however, talks between Google and Groupon reportedly crumbled.

About Our Expert

Chloe Albanesius

Chloe Albanesius

Executive Editor, News

My Experience

I started out covering tech policy in DC for The National Journal, where my beat included state-level tech news and all the congressional hearings and FCC meetings I could handle. I later covered Wall Street trading tech before switching gears to consumer tech. I now lead PCMag's news coverage.

My Areas of Expertise

Getting my start in DC means I still have a soft spot for tech policy; Congressional hearings can sometimes be as entertaining as a Bravo reality show, for better or worse. But PCMag is all about the technology we use every day, as well as keeping an eye out for the trends that will shape the industry in the years ahead (or flop on arrival). I've covered the rise of social media, the iOS vs. Android wars, the cord-cutting revolution that's now left us with hefty streaming bills, and the effort to stuff artificial intelligence into every product you could imagine. This job has taken me to CES in Vegas (one too many times), IFA in Berlin, and MWC in Barcelona. I also drove a Tesla 1,000 miles out west as part of our Best Mobile Networks project. Of late, my focus is on our hard-working team of reporters at PCMag, guiding and editing their robust coverage.

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