Sequoia to invest in Groupon India

Groupon Inc. said Sunday that Sequoia has agreed to invest in Groupon India. Financial terms weren’t announced. Groupon said it would remain a significant shareholder. Groupon India will continue to operate under CEO Ankur Warikoo’s leadership.


PE HUB First Read

First Read ends the week with news Groupon has acquired food delivery service OrderUp, Gawker sinks to a new low and Uber overtakes taxis in battle for business travelers.


KKR, Anchor Equity to acquire Ticket Monster for $360 mln: Updated

Kohlberg Kravis Roberts & Co and Anchor Equity Partners have agreed to buy a controlling stake in Ticket Monster, a mobile commerce company based in South Korea. The seller is Groupon Inc, which will retain a minority stake in TMON. No financial terms were disclosed for the deal that is expected to close in the second quarter of this year. Canada Pension Plan Investment Board and Pavilion Capital will be co-investing in this transaction.


peHUB First Read

First Read kicks off this morning with news of GoDaddy pricing its IPO at $20 per share, valuing it at about $4.5 billion, Samson Resources says it may file for Chapter 11 bankruptcy and Groupon is offering cat cab services for April Fools’ Day.


Groupon acquires VC-backed Swarm Mobile

Groupon has bought San Francisco-based Swarm Mobile, a provider of a retail analytics and customer engagement platform, the former confirmed in a blog post on its site. No financial terms were disclosed. Swarm Mobile was backed by Icon Venture Partners. To read more about the acquisition, visit here.


peHUB Second Opinion

In Second Opinion, Apple is holding an iPhone event on Sept. 9, Groupon’s Q2 results disappoint, Dollar General is considering making a rival bid for Family Dollar and a study finds that horses talk with their ears.


Foundation Capital names two EIRs

Foundation Capital, a venture firm based in Menlo Park, Calif., has hired Srinivas Mantripragada and Geoffrey Wong as entrepreneurs-in-residence. Previously, Mantripragada worked at Infoblox where he recently served as a vice president of technology while Wong is a former product manager for Groupon‘s MerchantOS group.


peHUB Second Opinion

In Second Opinion, Alibaba finally files for an IPO, Target’s interim CEO doesn’t want the job permanently and the success of “Frozen” helps Disney fly past quarterly earnings expectations.

ticking time bomb

Why Groupon Has Six Months or Less to Find a Permanent CEO Replacement

In late 2011, Groupon, the daily deals company, went public in a glittering debut. But it quickly began to lose luster, and after abruptly ousting its founding CEO, Andrew Mason, last week, the VCs who invested in the company probably wondered whether they would have to write down their carrying value for the company yet again. According to experts, they should be more worried whether Groupon will be worth anything at all.

NEA To Open Chicago Office

New Enterprise Associates, Inc. said it will open a Chicago office to serve portfolio companies in the region. The firm has invested more than $300 million in 20 Chicago-based companies over the years including Groupon, ArcSight, Cleversafe, Echo Global Logistics, InnerWorkings, Neutral Tandem, and Sprout Social. NEA presently has offices in the Washington, D.C. region, Menlo Park, and New York City, as well as affiliate operations in Shanghai, Beijing, Bangalore and Mumbai.

Reuters – Groupon’s China Unit to Merge with Tencent

Groupon‘s Gaopeng China joint venture with Tencent Holdings will merge with another Chinese daily-deal website to form a new company, writes Reuters. The company said in a statement it will merge with lifestyle daily-deals website, FTuan, which is also backed by Tencent. Groupon will be a minority shareholder in the new company, as it is […]

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