Groupon Raises $950 Million

NEW YORK ( TheStreet) -- Just a couple of weeks after an SEC filing confirmed that daily deals site Groupon raised $500 million worth of a planned $950 million financing round, the company announced Monday that it has raised the entire amount.

The funding values Groupon at more than $4.75 billion, according to tech blog TechCrunch.

Last month, Groupon turned down a reported $6 billion acquisition offer from Google ( GOOG).

The company, based in Chicago, will use the funding round to expand globally, invest in technology and provide liquidity for founders and early investors.

Investors include Andreessen Horowitz, Battery Ventures, Greylock Partners, Kleiner Perkins Caufield & Byers, Mail.ru Group, Maverick Capital, Silver Lake and Technology Crossover Ventures.

>>LivingSocial CEO: Doubling our Market This Year

Launched in late 2008, Groupon offers discounts to its 50 million subscribers for local restaurants, spas and other consumer services.

The company operates in more than 500 markets in 35 countries around the world.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

More from Investing

Amazon and Oracle's Beef Is Carrying Over to the Courtroom in JEDI Dispute

Amazon and Oracle's Beef Is Carrying Over to the Courtroom in JEDI Dispute

What Is Litecoin? What to Know in 2019

What Is Litecoin? What to Know in 2019

How to Play Today's Collapse in Oil Prices

How to Play Today's Collapse in Oil Prices

In This Stock Market, It's Not Easy Being Green

In This Stock Market, It's Not Easy Being Green

What Is Cost of Capital and Why Is It Important for Business in 2019?

What Is Cost of Capital and Why Is It Important for Business in 2019?