Groupon Raises $500M in Equity Offer

NEW YORK ( TheStreet) -- Groupon, which operates a Web site offering users discounts to local businesses, has already raised $500 million worth of its planned $950 million equity offering, according to a Form D filing with the Securities and Exchange Commission on Thursday.

The company reportedly spurned a $6 billion acquisition offer from Google ( GOOG) earlier this month, and it's apparently finding plenty of interest from private investors.
Groupon

According to the filing, a total of 33 investors were part of this first round of its equity offering, plans for which were initially disclosed on Dec. 17. Roughly $345 million of the monies raised will go to company directors named in the filing, including Andrew Mason, who founded the Chicago-based company in 2008.

Groupon declined to provide an estimate of its revenue range in the Form D filing, but the company's annual revenue is reportedly around $800 million. The company offers discounts on restaurants, spas and other consumer services in more than 300 cities.

-- Written by Michael Baron in New York.

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