Spanish group buying site Groupalia ends the year on a high, busting all its targets

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Groupalia, a Spanish group buying site, has announced $3 million in revenues for December alone with the numbers of users now standing at 4 million across the six countries where it operates (Spain, Italy, Brazil, Mexico, Argentina and Chile).

Previously its stated goals for 2010 was to attract 2 million users and reach turnover of 5 million euros. But overall it’s closed 2010 with a turnover of $8 million. It started operating just 8 months ago.

It recently raised a funding round last October.

That was its second institutional round of 5 million euro, after securing 2.5 million euros back in May, again from Nauta Capital, and Caixa Capital Risc, Spanish bank la Caixa’s venture capital division. Previous angel investors also participated in the round, namely Groupalia CEO Joaquin Engel in tandem with Lucas Carné and Jose Manuel Villanueva (the founders of Privalia, another Nauta portfolio company).

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