Internet marketing company Groupon has raised 950-million dollars from venture capital firms and late-stage investors.
The firm specializes in local advertising on the Internet. Groupon reportedly spurned a six-billion dollar takeover bid from Google a month before it raised 500-million dollars in December. In a regulatory filing, Groupon said the money would be used to buy back its shares from investors. It’s expected the money Groupon has raised will also finance new technology and expansion outside the U.S.