Meet the newest billion-dollar internet startup: Groupon. Russian firm Digital Sky Technologies, which has provided big funding for other big startups in the social space, namely Facebook and Zynga, has led a $135m investment in the young but profitable Chicago-based startup. The valuation: a cool $1.2bn valuation, which some observers believe is still “cheap.”
Groupon is attracting a lot of attention these days, and for good reason. The U.S.-based group shopping service has fueled a worldwide gold rush in the group shopping space.