Wow. A site / concept that is barely 1 ½ years old that hits the $1 billion valuation mark? I had to see if I stepped into some worm hole that took me back in time to the late 1990’s. Apparently I have not and neither has Groupon who, by landing $135 million in an additional funding through Digital Sky Technology and Battery Ventures, has attained a standing that very few sites in the world can claim: a $1 billion valuation.
As reported at All Things Digital and the press release of this news:
Chicago/Moscow, April. 19, 2010–Groupon, the leading social commerce site, today announced that DST, a leading global internet investment group, will lead an investment round of $135 million in the Company. A portion of the investment will be used to fuel Groupon’s global expansion, and the rest will be used to facilitate liquidity for employees and early investors.