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Groupon looking to raise $950mn from preferred stock issuance, IPO likely to be pushed back


grouponUpdate: Groupon has raised $500-million (SEC filing) of the $950-million from various investors, including the New York City-based investment bank, Morgan Stanley (first time investor), among other partners.

The Chicago-based private and largest Internet consumer coupon service, Groupon, is planning to raise additional capital, up to $950-million by issuing new Series G preferred stock, according to a new securities court filing in a Delaware court.

Groupon would use the proceeds from the issuance to fund continuing operations and to help expand the company by entering new and emerging markets, either by acquisitions or simply by direct investment.

According to the court papers, the company changed its corporate licensing certificate to allow it to issue up to an additional 30.1-million preferred Series G which would value the firm at $4.75-billion.

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URL shortening service Bit.ly raises $10mn in VC funding


The popular Internet-based URL shortening service, Bit.ly, has reported via a blog post that the company has raised $10-million in a new Series B venture capital around of financing.

This latest round was led by RRE Ventures, and included previous investors including the Founders Fund, Alpha Tech Ventures, among other venture capitalists and angel investors. AOL Ventures also participated in the financing for the first time.

Many people wonder how the company generates revenue, and at first glance, it might not be very clear.

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