Wanted: Cash Infusion for Groupon

By FOXBusiness

Just weeks after rejecting a $6 billion buyout bid from Google (NASDAQ:GOOG), daily coupon Web site owner Groupon is reportedly eyeing a cash infusion.

According to Bloomberg News, Groupon is looking to raise several hundred million dollars and the new financing would place a value on the company below Google’s offer price.

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Groupon may use the money to hire sales staff and maintain its lead over rivals like LivingSocial, which lined up $183 million from a consortium led by Amazon.com (NASDAQ:AMZN) earlier this month, Bloomberg reported.

Chicago-based Groupon reportedly received financing from a group led by Digital Sky Technologies that placed a $1.3 billion price tag on the company.

Earlier this month Google failed to reach a deal to acquire Groupon despite offering a big premium over what Yahoo! (NASDAQ:YHOO) had bid. At the time reports indicated Groupon would continue to consider remaining independent or pursuing an initial public offering in the future.

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