Groupon gets R3 billion boost from investor

Tuesday, 05 April 2016, 08:59
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Groupon gets R3 billion boost from investor
Groupon
BUSINESS NEWS - Groupon, the US daily deals e-commerce operator which has been struggling since a hot public share offering, said yesterday it had received a $250-million (R3.68-billion) boost from a private investment fund.

Groupon said it would use the cash infusion from Atairos to boost share repurchases and revive growth.

“Our partnership with Atairos will help accelerate our transformation while better positioning us to execute our strategy and mission to build the daily habit in local commerce – in which we continued to make progress on in the first quarter,” Groupon chief executive Rich Williams said.

Atairos was launched earlier this year with more than $4-billion (R59-million) in capital.
 

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