Groupon has secured $500 million of the $950 million in funding it is looking to raise, according to a Securities and Exchange Commission .
Groupon's total offering amount is $950,091,047. Of that, the company has already raised $500,000,141 and still wants $450,090,906.
On Tuesday, Groupon founder and chief executive Andrew Masonthat "Groupon is in the process of completing a new round of financing - we'll let everyone know when there's more to announce." Beyond that, the company has not commented publicly on its funding activities.
News of the $950 million funding roundwhen VC Expertsthat Groupon had "filed a certificate to authorize a $950 million Series G round of preferred stock." VC Experts put the value of Groupon at $6.4 billion, though depending on how the company's shares are issued, that could jump to to $7.8 billion, the site said.
The news comes several weeks after reports that Google was looking to buy Groupon. Reports originally put the deal at $2.5 billion , but that later skyrocketed to over $5 billion . By early December, however, talks between Google and Groupon reportedly .