Groupon has said it expects to serve 300 markets by the end of this year, up from the 230 or so it currently reaches. The latest round of funding could help the site bulk up its sales staff to sign on local businesses, Bloomberg said.
Since its founding just two years ago, Groupon has raised $170 million from investors. Its last round, led by Mail.ru Group in April, gave it a $1.3 billion valuation. Other investors include Facebook backer Accel Partners and New Enterprise Associates.
In addition to obvious investor interest, one venture capitalist speculated to Bloomberg that an acquirer could snap up Groupon in the coming months.
Last updated: Nov 8, 2010
MATT QUINN contributes to the Wall Street Journal's corporate finance blog. He has also written extensively about banking and corporate finance for publications including Inc., American Banker, and Financial Week. He lives in Brooklyn, New York.