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Groupon Cofounders Have Gained a Lot from Groupon
Posted On 05/24/2011 01:11:55 by

In September 2010, we named Eric Lefkofsky,Groupon contact, the greatest person investor in Groupon, as a "billionaire within the producing." He was 1 of 15 men and women we cited as probably to grow to be billionaires by 2015. Fifth about the listing, behind folks like Zynga's Mark Pincus and Facebook's first president Sean Parker, he was believed to become worth $750 million.

Now he might be the very first 1 to officially cross into your billionaire ranks. The brand new York Times DealBook reported these days that Google (nasdaq: GOOG) might strike a deal by finish of week to purchase Groupon for $5 billion to $6 billion. Depending on the reduced estimate, Lefkofsky's 30% stake would be worth $1.5 billion. That valuation could possibly also land his cofounder and also the group's chief executive, Andrew Mason, among the world's wealthiest. His believed stake of 20% would be really worth $1 billion. (That does not factor in taxes if it turns out to be a cash deal).

It's been a ridiculous few of decades for Groupon, which presents online consumers with deep discount rates on merchandise or providers. (The name blends "group" and "coupon." ) Groupon raised $135 million in April,Groupon clone script, the biggest chunk of it from Digital Sky Technologies,Groupon promotion, the Moscow investment fund behind Facebook and Zynga. Determined by that transaction,Groupon clone, the 17-month-old organization was already valued at $1.35 billion. The only provider to succeed in a $1 billion valuation faster, based on Forbes writer Christopher Steiner, was YouTube (now component of Google), founded in 2005. We featured Groupon on our August cover, calling it the fastest-growing firm ever before.

Lefkofsky and Mason met at InnerWorkings, a Chicago firm where Mason worked after college. Lefkofsky was a founder of the outfit, which farms out companies' printing careers. Lefkofsky later gave Mason $1 million in angel money for yet another startup notion he had. Whilst Mason runs Groupon, Lefkofsky is occupied searching for other investments. Before this yr, he cofounded a venture fund LightBank, that has stakes in practically a dozen businesses. He is also the writer of Accelerated Disruption and an adjunct professor in the University of Chicago Booth School of Organization.

As for no matter if the deal will get accomplished, Google mentioned it doesn't comment on "rumor or speculation." Calls and/or emails to Groupon and Lefkofsky haven't yet been returned.

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