Groupon is seeking additional funding that could value the group buying site at $2 billion-to-$3 billion, sources tell Bloomberg/Businessweek
. "The company aims to raise the funding to help it expand
beyond the 230 markets where it now operates," say sources. Currently, Groupon has about 20 million subscribers, and plans to serve 300 cities by year's end.
Groupon's most recent funding
round, which closed in April, valued the company at about $1.3 billion. Groupon has raised a total of $170 million from investors, including Facebook backer Accel Partners and New Enterprise
Associates. In early October, BoomTown's Kara Swisher picked up on rumors that Yahoo was taking a close look at Groupon. Also of note, the Chicago-based startup recently released a self-service
platform for businesses to set up virtual storefronts to promote and run their own deals. Depending on who you listen to, the move will either dilute Groupon's core value proposition -- turning it
into a glorified coupon aggregator -- or rocket the company to new heights.
Read the whole story at Bloomberg/Businessweek »