Groupon Raises $500 Million

NEW YORK — Groupon, the fast-growing Internet startup that offers local deals and discounts to members, has raised $500 million of the $950 million it is planning to collect in its latest financing round.The Chicago company said in a r…

NEW YORK — Groupon, the fast-growing Internet startup that offers local deals and discounts to members, has raised $500 million of the $950 million it is planning to collect in its latest financing round.

The Chicago company said in a regulatory filing Thursday it plans to use up to $344.5 million of the proceeds to buy back shares from existing shareholders, including founder and CEO Andrew Mason.

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