Using collective buying power to offer unbeatable prices, Groupon features a daily deal on the best things to do, eat, see, and buy in cities around the world.

Background:

Having identified “group buying” early on as one of the breakout categories in new e-commerce models, Battery evaluated a set of emerging firms and pinpointed Groupon as having the highest potential in the sector. For more than a year before investing, Battery engaged with the Groupon team. Then, in early 2010, Battery invested in a $135 million financing round to build out the company’s engineering and sales teams and expand Groupon’s footprint into new geographies.

Battery’s Impact:

• In 2011, Battery continued backing the company as part of a $1 billion fundraising round, raised to facilitate further expansion and acquisitions.
• Battery supported the Groupon team through massive and rapid global growth.
• Identifying acquisition opportunities, Battery also assisted Groupon through those acquisitions and subsequent integrations.
• With the goal of driving company growth, the Battery team recruited additional management to support Groupon’s founders.

Outcome:

By October 2010 Groupon had over 35 million registered users. In 2011, Groupon executed the largest IPO by an Internet company (at that time) since Google’s 2004 IPO. NASDAQ: GRPN, November 2011.