Last week we reported that Groupon was closing a massive $950 million funding round at an impressive $4.75 billion valuation in the wake of walking away from an acquisition offer from Google.
Groupon already closed half of that — around $500 million — from Russian firm DST, Fidelity and Morgan Stanley. Now we’ve heard from multiple sources that distinguished Silicon Valley firm Kleiner Perkins is on the verge of participating in the round as well. It’s unclear when the remainder of the round will close or who the other other participants aside from Kleiner will be.
Kleiner has recently been making aggressive moves in Silicon Valley, including a $150 million slice of Twitter’s recent $200 million funding round, doubling down on its iFund earlier this year, and its $250 million bet on social, the sFund.
Kleiner Perkins Caufield & Byers (KPCB) is a well known Silicon Valley venture capital firm, due in large part to their past success. They were early investors in many significant companies, including Amazon, AOL, Compaq, Electronic Arts, Google, Intuit, Macromedia, Netscape, Segway, and Sun Microsystems. The name of the firm comes from the four founding partners: Eugene Kleiner, Tom Perkins, Frank J. Caufield, and Brook Byers. In March 2008, KPCB announced the iFund, a $100M investment initiative focused on ideas...
Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 565 cities around the world. By promising businesses a minimum number of customers, Groupon can offer deals that aren’t available elsewhere. Groupon brings buyers and sellers together in a fun and collaborative way that offers the consumer an unbeatable deal, and businesses a large number of new customers. To date, it has saved consumers more than $300 million and claims it...
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