Groupon Raises $950 Million [CONFIRMED]

Group buying site Groupon has confirmed earlier rumors that it has raised $950 million in a recent round of financing, a little more than a month after it rejected a $6 billion acquisition offer from Google.

Several venture capital firms and late-stage investors participated in the round, which values Groupon at $4.75 billion, including Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake, and Technology Crossover Ventures.

Groupon will use the funds to further fuel global expansion, develop its technology, and pad the coffers of its employees and early investors, according to statement released Monday.

“We’re thrilled that Groupon has earned the confidence of some of the world’s most respected investment firms,” Groupon CEO and founder Andrew Mason said. “With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses,” he added.