Groupon Inc. the chicago based online coupon company, is said to be looking for venture capital funding to the tune of $100 million, to ward off competition from new comers like Living Social.
Groupon primarily relies on email to reach its 35 million customers in 29 countries. Groupon offers discount of up to 90% on products and services through "coupons". However the coupons become effective only after a minimum number of people purchase them.
Google which is sitting on cash reserves in excess of $33 billion has reportedly offered Groupon $3.5 billion initially and eventually raised it up to $6 billion (over Rs.27,000 crores) earlier this month but Groupon so far has resisted the temptation to "sell out".
