Groupon Wraps Up $950 Million Financing Round

Groupon has raised $950 million from its latest round of financing with investors.

The funds, invested by venture capital companies Andreessen Horowitz, Battery Ventures, Greylock Partners and Kleiner Perkins Caufield & Byers, and private-equity firm Silver Lake, will allow the company to expand its operations, as well as buy back shares from the current shareholders.

Following the investment Groupon has been valued at $4.75 billion.

The company has also announced today that it is to expand its operations into India, Israel and South Africa following the acquisition of local-based deals websites in each of the countries.

“Collective buying is in its infancy in India, Israel and South Africa and we see strong potential,” Rob Solomon, president and chief operating officer of Groupon said in a statement.

“Groupon is shaping the way local merchants market themselves in every corner of the world.”

The group savings website allows consumers to opt into deals offered by retailers, which are later granted should enough users take part in the offer.

Since launching in 2008 Groupon has grown rapidly, and has even spurned a take-over attempt from Google said to be worth $6 billion.