Groupon Raises $950 Million

Groupon closed a $950 million round of new financing yesterday, which would value the coupon advertising company around $4.75 billion, according to Tech Crunch. According to this article, Allen & Co. is advising Groupon on the deal. Groupon is selling shares at $31.59 per share, which is actually 53 cents less than what its last round of financing went for. Earlier this month, Google GOOG had tried to buy the Chicago-based company for around $6 billion, but was ultimately rebuffed. This round of financing is Series G, and it's preferred stock.